A company reported the following amounts in its income statement: Sales revenue $ 440,000 Advertising expense 60,000 Interest expense 10,000 Salaries expense 55,000 Utilities expense 25,000 Income tax expense 45,000 Cost of goods sold 180,000 What is gross profit? Multiple Choice $180,000 $120,000 $220,000 $260,000
A company reported the following amounts in its income statement: Sales revenue $ 440,000 Advertising expense 60,000 Interest expense 10,000 Salaries expense 55,000 Utilities expense 25,000 Income tax expense 45,000 Cost of goods sold 180,000 What is gross profit? Multiple Choice $180,000 $120,000 $220,000 $260,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
A company reported the following amounts in its income statement:
Sales revenue | $ 440,000 |
---|---|
Advertising expense | 60,000 |
Interest expense | 10,000 |
Salaries expense | 55,000 |
Utilities expense | 25,000 |
Income tax expense | 45,000 |
Cost of goods sold | 180,000 |
What is gross profit?
Multiple Choice
-
$180,000
-
$120,000
-
$220,000
-
$260,000
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