   Chapter 15.II, Problem 7RE ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

# Calculate the missing information based on the format of the income statement. Net Sales Cost of Goods Sold GrossMargin OperatingExpenses Net Profit 7. $341,300$186,740 $68,050 To determine To calculate: The gross margin and operating expense if net sales is$341,300, cost of goods sold is $186,740 and net profit is$68,050.

 Net Sales Cost of Goods Sold Gross Margin Operating Net Profit $341,300$186,740 $68,050 Explanation Given Information: The net sales is$341,300, cost of goods sold is $186,740 and net profit is$68,050.

Formula used:

The gross margin is computed by subtracting cost of goods sold from net sales.

Gross margin=Net salesCost of goods sold

The operating expense is computed by subtracting net profit from gross margin.

Operating expense=Gross marginNet profit

Calculation:

Consider net sales is $341,300, cost of goods sold is$186,740 and net profit is \$68,050

### Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

#### The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

#### In problems 63-73, factor each expression completely. 70.

Mathematical Applications for the Management, Life, and Social Sciences

#### Solve the equations in Exercises 126. 2(x21)x2+1x4x2+1x2+1=0

Finite Mathematics and Applied Calculus (MindTap Course List)

#### In Exercises 7-28, perform the indicated operations and simplify each expression. 17. 1+1x11x

Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach

#### limx5x225x29x+20= a) 1 b) 10 c) d) does not exist

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th 