A company has net sales of $755,700 and cost of goods sold of $545,700. Its net...
A company has net sales of $755,700 and cost of goods sold of $545,700. Its net income is $18,410. The company's gross margin and operating expenses, respectively, are: Multiple Choice $228,880 and $527,290 $210,000 and $228,880 $736,820 and $191,590 $527,290 and $228,880 $210,000 and $191,590
Homework Answers
Ans:
Gross margin = Net sales - Cost of goods sold
Gross margin = $755,700 - $545,700
Gross margin = $210,000
Net income = Gross margin - Operating expenses
Operating expenses = Gross margin - Net income
Operating expenses = $210,000 - $18,410
Operating expenses = $191,590
Gross margin = $210,000 and Operating expenses = $191,590
Option d
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