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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