Question

A company reported the following data for the year ending 2018
sales =$4,00,000 , Sales discount =$16,000 , Sales return & alowance=$ 13,000 ,cost of goods sold =$117,000,operating expense =$153000,income tax expense =$23,750.compute the amount of gross profit to be reported on the income statement

Answer 1

Answer:

$ 124,750

Explanation:

correct answer

Answer 2

Answer:

Explanation:

D