A pet store reported the following: Net Sales.. $689,000 Cost of Goods Sold.. $357,000 Operating Expenses.....
A pet store reported the following: Net Sales.. $689,000 Cost of Goods Sold.. $357,000 Operating Expenses.. $202,000 What is the “$ Net Profit/Net Loss” and “% for Operating Expenses” (round to one decimal place)?
A. $130,000 Net Profit; 29.3% Operating Expenses
B. $130,000 Net Loss; 29.3% Operating Expenses
C. $534,000 Net Loss; 77.5% Operating Expenses
D. $534,000 Net Profit; 77.5% Operating Expenses
Homework Answers
Net profit=Net Sales-COGS-Operating Expenses
=(689000-357000-202000)=$130000
Operating expenses%=Operating expenses/Net Sales
=(202000/689000)=29.3%(Approx).
Hence the correct option is A.
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A pet store reported the following: Net Sales.. $689,000 Cost of
Goods Sold.. $357,000 Operating Expenses.....
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