Dec 31, 2019 SERVICE REVENUE $ 281,000 120,000 Sales revenue, net Cost of goods sold GrDss profit 161,000 OPERATING EXPENSES Selling expenses Wages expense - selling Fuel expense - selling Depreciation expense-selling Total selling expenses General and administrative expenses 15,000 20,000 45,000 80,000 Rent expense - administrative Office supplies expense-administrative 12,000 15,000 27,000 107,000 54,000 Total general and administrative expenses Total operating expenses Total incorme from operations OTHER EXPENSES Interest expense 2,000 52,000 Total income before tax Incorme tax expense 13,000 Net income %24 39,000 Eamings Per Share (EPS) 0.65 What is Carson's Bakery gross profit margin? O 13.87% О 38.87% О з3.54% O 57.29%

Question
Dec 31, 2019
SERVICE REVENUE
$ 281,000
120,000
Sales revenue, net
Cost of goods sold
GrDss profit
161,000
OPERATING EXPENSES
Selling expenses
Wages expense - selling
Fuel expense - selling
Depreciation expense-selling
Total selling expenses
General and administrative expenses
15,000
20,000
45,000
80,000
Rent expense - administrative
Office supplies expense-administrative
12,000
15,000
27,000
107,000
54,000
Total general and administrative expenses
Total operating expenses
Total incorme from operations
OTHER EXPENSES
Interest expense
2,000
52,000
Total income before tax
Incorme tax expense
13,000
Net income
%24
39,000
Eamings Per Share (EPS)
0.65
What is Carson's Bakery gross profit margin?
O 13.87%
О 38.87%
О з3.54%
O 57.29%
Expand
Transcribed Image Text

Dec 31, 2019 SERVICE REVENUE $ 281,000 120,000 Sales revenue, net Cost of goods sold GrDss profit 161,000 OPERATING EXPENSES Selling expenses Wages expense - selling Fuel expense - selling Depreciation expense-selling Total selling expenses General and administrative expenses 15,000 20,000 45,000 80,000 Rent expense - administrative Office supplies expense-administrative 12,000 15,000 27,000 107,000 54,000 Total general and administrative expenses Total operating expenses Total incorme from operations OTHER EXPENSES Interest expense 2,000 52,000 Total income before tax Incorme tax expense 13,000 Net income %24 39,000 Eamings Per Share (EPS) 0.65 What is Carson's Bakery gross profit margin? O 13.87% О 38.87% О з3.54% O 57.29%

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