Financial information is presented below: Operating expenses 38,000 Sales returns and allowances 7,000 Sales discounts 8,000 Sales revenue 150,000 Cost of goods sold 91,000 What is the net income?

During the current year, merchandise is sold for $62,740 cash and for $85,360 on account. The cost of the merchandise sold is $96,270. What is the gross profit?

Safety Company had $45,000 in gross sales, $1,200 in sales discounts, $10,000 in cost of goods sold, $5,500 in selling expenses, $600 in sales returns and allowances, and $7,200 in general expenses. What is Safety Company net sales? a.$35,000 b.$43,200 c.$20,500 d.$33,200

During the current year, merchandise is sold for $60,300 cash and for $87,600 on account. The cost of the goods sold is $96,140. What is the amount of the gross profit?

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 The amount of net sales on the income statement would be Select one: a. $ 338,000. b. $332,000. c. $350,000. d. $320,000.

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