A company reported the following: Cost...
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Accounting
| A company reported the following: |
| Cost of Goods Sold | $260,000 |
| General, Selling and Administrative Expenses | 61,000 |
| Income Tax Expense | 5,750 |
| Inventory | 27,000 |
| Net Income | 31,700 |
| Sales Revenue | 365,000 |
| Sales Discounts | 3,500 |
| Sales Returns and Allowances | 3,050 |
11.
Required information
| What is the amount of gross profit? |
$105,000
$92,700
$98,450
$37,450
12.
Required information
| What is the amount of Income before Income Taxes? |
$25,950
$31,700
$37,450
$105,000
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