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Can someone help me with this business /math question?
Calculate net sales, gross profits, total operating expenses, and net income.
Sales Returns $7000
Rent Expense $12880
Sales Discounts $9500
Depreciation Expense $6000
Cost of Merchandise Sold $76000
Gross Sales $209000
Advertising Expense $16500
Salary Expense $29000
Heat Expense $9000
I managed to get the total expenses and net sales.
2 Answers
- JonathanLv 66 years ago
Gross Sales $209000
Sales Returns ($7000)
Sales Discounts ($9500)
Net sales = 192,500
Cost of Merchandise Sold ($76000)
Gross Profit = 116,500
Rent Expense $12880
Depreciation Expense $6000
Advertising Expense $16500
Salary Expense $29000
Heat Expense $9000
Net income = 43,120
- Don GLv 76 years ago
Gross profit is the difference between Net Sales and Cost of Mdse Sold. Net Income of course is the final result, after all expenses.
