Question: Using the spreadsheet below to answer the following question(s). The spreadsheet below shows the net income model for a company that sells shoes. A B

Using the spreadsheet below to answer the following question(s). The spreadsheet below shows the net income model for a company that sells shoes.

A B
1 Net Income Model
2
3 Data
4
5 Sales $10,000,000
6 Cost of Goods Sold $ 6,400,000
7 Administrative Expenses $ 500,000
8 Selling Expenses $ 900,000
9 Depreciation Expenses $ 750,000
10 Interest Expenses $ 70,000
11 Taxes $ 620,000
12
13 Model
14
15 Gross Profit $ 3,600,000
16 Operating Expenses $ 2,150,000
17 Net Operating Income $ 1,450,000
18 Earnings Before Taxes $ 1,380,000
19
20 Net Income

Which of the following would be used to calculate the gross profit?

Group of answer choices

=B5-B6+(B11-B10)

=SUM(B7:B11)-B6

=B5-B6

=B5-(B6-B11)

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