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Clover Incorporated reported sales revenue for the period of $500 million, cost of goods sold...

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Accounting

Clover Incorporated reported sales revenue for the period of $500 million, cost of goods sold of $330 million and general operating expenses of $20 million. Which of the following is true?

Gross profit is $150 million

Net income is $480 million

Net income is $190 million

Gross profit is $170 million

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