Answered: The income statement account balamnces…

The income statement account balamnces for the year ended Dec. 31 shows the following: Net Sales 875,000 COGS 700,000 Expenses 143,000

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 2P

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Question

The income statement account balamnces for the year ended Dec. 31 shows the following:

Net Sales 875,000

COGS 700,000

Expenses 143,000

How much is the profit?

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