please solve this one with given option Cushman Company, Inc. had $812,000 in sales, sales discountsof $12,180, sales returns and allowances of $18,270, cost of goodssold of $385,700, and $279,330 in operating expenses. Gross profitequals:a. $116,520.b. $781,550.c. $414,120.d. $395,850.e. $408,030.

Step 1: Define Gross ProfitComputing the amount of gross profit is significant in accounting. The…

Answered: Cushman Company, Inc. had $812,000 in…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

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Chapter6: Merchandising Transactions

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Problem 19Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and...

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Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of goods sold was 240,000, its operating expenses were 50,000, its interest revenue was 2,000, and its interest expense was 12,000. Brandts income tax rate is 30%. Prepare Brandts multiple-step income statement for the current year.
The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and Allowances: $34,890; COGS: $120,470; Sales Discounts: $44,760. Given this information, what is the Gross Profit Margin Ratio for Sunrise Motors? (Round to the nearest whole percentage.)
Cushman Company had $814,000 in sales, sales discounts of $12,210, sales returns and allowances of $18,315, cost of goods sold of $386,650, and $280,015 in operating expenses. Gross profit equals: O Multiple Choice $396,825. O $415,140. $409,035. $783,475. $116,810.
Cushman Company had $824,000 in sales, sales discounts of $12,360, sales returns and allowances of $18,540, cost of goods sold of $391,400, and $283,455 In operating expenses. Net income equals: Multiple Choice O $793,100. O $401,700. O $180,045. $149,145. $118,245.
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Cushman Company, Inc. had $812,000 in sales, sales discounts of $12,180, sales returns and allowances of $18,270, cost of goods sold of $385,700, and $279,330 in operating expenses. Gross profit equals: a. $116,520. b. $781,550. c. $414,120. d. $395,850. e. $408,030.