For the fiscal year, sales were $191,350,000 and the cost of merchandise sold was $114,800,000.a. What was the amount of gross profit?b. If total operating expenses were $18,250,000, could you determine net income?c. Is Customer Refunds Payable an asset, liability, or owner’s equity account, and what is its normal balance?d. Is Estimated Returns Inventory an asset, liability, or owner’s equity account, and what is its normal balance?

AB Ltd. has MCC has prepared the Income statement including the following data (all sales are on account): Sales $80,000 Cost of Goods Sold Gross Profit Expenses Net Profit $50,000 $ 25,000 $ 10,000 $15,000 The comparative balance sheet shows the following data (by definition, accounts payable relates to merchandise purchases only): End of Year Beginning of Year Accounts Receivables (net) Inventory Prepaid Expenses Accounts Payable $7,000 $3,000 $2,000 $1,140 $5,280 $2,000 $1,000 $1,500 Required 1: What is the amount of Cash received from Customers? $ Required 2: What is the amount of Cash paid for merchandise purchase? $

Please do not give solution in image format ?

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?

During the current year, merchandise is sold for $135,800 cash and $406,300 on account. The cost of the goods sold is $341,500. What is the amount of the gross profit? $

From the following, calculate (A) net sales, (B) gross profit, (C) total operating expenses, and (D) net income: sales returns $700, rent expense $1,288, sales discounts $950, depreciation expense $600, cost of merchandise sold $7,600, gross sales $20,900, advertising expense $1,650, salary expense $2,900, and heat expense $900.

Interest expense = 36,000. Sales revenue = 2,195,000. Interest and dividends = 9,000. Selling expenses = 253,000. Administrative expenses = 104,000. Sales returns and allowances = 98,000. Income tax expense = 168,200. Cost of goods sold = 1,281,000. How much is the gross profit?