A company has net sales of $750,000, cost of goods sold is $500,000, net income is $20,000. What are the company’s gross...
A company has net sales of $750,000, cost of goods sold is $500,000, net income is $20,000. What are the company’s gross margin expense and operating expense?
Homework Answers
Answers:
Gross MArgin = $250,000
Operating Expenses = $ 230,000
Gross MArgin = Net sales - Cost of Goods Sold = $750,000-500,000 = $ 250,000
Operating Expenses = Gross MArgin - Net income = 250,000-20,000 = $230,000
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