Question

Nu Company reported the following pretax data for its first year of operations. Net sales Cost of goods available for sale Op
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Answer #1

Answer : option ( B )

Explanation :

Particulars Amount
Net sales 2,900
Cost of goods sold ( 2,350 - 1,170) 1,180
Gross profit 1,720
Operating expenses 840
Income before taxes 880
Income tax ( @ 20% ) 176
Net income 704
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