Financial information is presented below: Operating Expenses $92,800 Sales Returns and Allowances 18,000 Sales Discounts 12,000 Sales Revenue 350,000 Cost of Goods Sold 176,000 Gross profit would be: A) $51,200 B) $156,000 C) $144,000 D) $174,000

Question:

Financial information is presented below:

Operating Expenses	$92,800
Sales Returns and Allowances	18,000
Sales Discounts	12,000
Sales Revenue	350,000
Cost of Goods Sold	176,000

Gross profit would be:

A) $51,200

B) $156,000

C) $144,000

D) $174,000

Gross Profit:

Gross profit can be defined as the total gain that a company has made after selling the goods and services and deducting the cost of goods sold from the net sales value.

Gross profit = Sales revenue - Sales return & Allowance - Sales discount - Cost of goods sold

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Financial information is presented below: Operating Expenses $92,800 Sales Returns and Allowances...

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Gross Profit:

Answer and Explanation:

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