The following list of accounts is from the adjusted trial balance for ACME Corporation: $165,825 Income...

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The following list of accounts is from the adjusted trial balance for ACME Corporation: $165,825 Income tax expense 231,413 Interest expense Accounts payable $75,488 Accounts receivable 144,787 Accumulated depreciation - buildings 121,275 Interest income 245,988 Accumulated depreciation - equipment 280,912 Inventory 287,100 Buildings 529,650 Land 1,361,250 87,863 Mortgage payable 284,625 Prepaid expenses Cash 2,413,125 Common Shares 35,887 1,378,575 Property tax payable 39,600 Salaries expense 138,600 Salaries payable Cost of goods sold 22,275 Deferred revenue 960,300 Delivery Expense 32,175 3,027,200 Depreciation expense Equipment 232,650 Sales 1,169,437 Using the above information, calculate the following amounts: 1. Gross Profit 2. Total Operating Expenses 3. Other Income and Expenses The following list of accounts is from the adjusted trial balance for ACME Corporation: $165,825 Income tax expense 231,413 Interest expense Accounts payable $75,488 Accounts receivable 144,787 Accumulated depreciation - buildings 121,275 Interest income 245,988 Accumulated depreciation - equipment 280,912 Inventory 287,100 Buildings 529,650 Land 1,361,250 87,863 Mortgage payable 284,625 Prepaid expenses Cash 2,413,125 Common Shares 35,887 1,378,575 Property tax payable 39,600 Salaries expense 138,600 Salaries payable Cost of goods sold 22,275 Deferred revenue 960,300 Delivery Expense 32,175 3,027,200 Depreciation expense Equipment 232,650 Sales 1,169,437 Using the above information, calculate the following amounts: 1. Gross Profit 2. Total Operating Expenses 3. Other Income and Expenses

Answer rating: 100% (QA)

Answer Explanation O Gros Profit Sales Cost of goods Seld 3027200 13... View the full answer