The following information is from the income statement for Sally's Soap Shop Inc. Determine the...
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Accounting
The following information is from the income statement for Sally's Soap Shop Inc. Determine the amount of gross profit.
| Cost of goods sold | $334,000 |
| Income tax expense | 48,200 |
| Operating expenses | 244,000 |
| Sales | 980,000 |
| Sales discounts | 24,000 |
| Sales returns and allowances | 74,000 |
Select one:
a. $882,000
b. $736,000
c. $548,000
d. $638,000
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