Question

Determine the missing amounts. Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Net Inc Year $ 72,340 $ (b) $32,300 $ (d) Year $111,100 $73,700 $ Year $71,900 $71,900 $116,050 $47,390 $ eTextbook and Media Save for Later Attempts: 0 of 10 used Submit Answer Send to Gradebook < Prev Next >

Answer 1

Answer
	Sales revenue	Cost of goods sold	Gross profit	Operating expenses	Net income
Year 1	72,340	40,040 (b)	32,300	19,250(d)	13050
		(72340-32300)		(32300-13050)
		[ Sales revenue - Gross profit ]		[ Gross profit - Net income ]
Year 2	111,100	73,700	37,400 (c)	6490 (e)	30,910
			(111,100 - 73,700)	(37400-30910)
			[ Sales revenue - Cost of goods sold ]	[ Gross profit - Net income ]
Year 3	187,950(a)	71,900	116,050	47,390	68,660(f)
	(71900+116050)				(116,050-47390)
	[ Cost of goods sold + Gross profit ]				[ Gross profit - Operating expense ]
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