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The following data were provided by Mystery Incorporated for the year ended December 31: Cost...

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Accounting

The following data were provided by Mystery Incorporated for the year ended December 31: Cost of Goods Sold $ 164,000 Income Tax Expense 17,470 Merchandise Sales (gross revenue) for Cash 238,000 Merchandise Sales (gross revenue) on Credit 41,600 Office Expense 18,900 Sales Returns and Allowances 6,990 Salaries and Wages Expense 39,800 2-a. What was the dollar amount of gross profit? 2-b. What was the gross profit percentage

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