Refer to the following trial balance. Debit Credit Cash $19,000 Accounts Receivable 42,000 Merchandise Inventory...
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Accounting
Refer to the following trial balance. Debit Credit Cash $19,000 Accounts Receivable 42,000 Merchandise Inventory 50,000 Supplies 16,000 Land 300,000 Accounts Payable $3000 Notes Payable 23,000 Kim, Capital 292,000 Kim, Withdrawals 3000 Sales Revenue 466,000 Cost of Goods Sold 210,000 Salaries Expense 16,000 Utilities Expense 68,000 Rent Expense 54,000 Interest Expense 6000 ________ Totals $784,000 $784,000 How much is the gross profit?
A) $256,000 B) $109,000 C) $118,000 D) $112,000
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