Answer
Pendleton Company | |
Sales | $ 2,756,000 |
Less: Estimated uncollectible accounts | $ 55,120 |
Net sales | $ 2,700,880 |
COGS | $ 1,472,900 |
Gross Profit | $ 1,227,980 |
Operating expenses | $ 685,000 |
Net Income | $ 542,980 |
Explanation:
Pendleton Company | |
Sales | =2500000*106%*104% |
Less: Estimated uncollectible accounts | =2756000*2% |
COGS | =1375000*104%*103% |
Operating expenses | =(600000*110%)+25000 |
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