Sales were $600,000, gross profit was $220,000, operating expenses were $120,000, and the income tax rate...
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Sales were $600,000, gross profit was $220,000, operating expenses were $120,000, and the income tax rate is 30%. Calculate the cost of goods sold and net income. 1. $380,000 and $30,000, respectively 2. $380,000 and $100,000, respectively 3. $380,000 and $70,000, respectively 4. $100,000 and $70,000, respectively Sales were $600,000, gross profit was $220,000, operating expenses were $120,000, and the income tax rate is 30%. Calculate the cost of goods sold and net income. 1. $380,000 and $30,000, respectively 2. $380,000 and $100,000, respectively 3. $380,000 and $70,000, respectively 4. $100,000 and $70,000, respectively
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Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Posted Date:
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