Calculate (A)net sales, (B)gross profit, (C)total operating expenses, and (D)net income.
Sales returns $850, rent expense $1,355, sales discounts $1,200, depreciation expense $510, cost of merchandise sold $6,500, gross sales $19,500, advertising expense $400, salary expense $2,100, heat expense $750.

Question

Quizplus · Accepted Answer

A. 19,500 - 850 - 1,200 = 17,450; B. 17,450 - 6,500 = 10,950; C. 1,355 + 510 + 400 + 2,100 + 750 = 5,115; D. 10,950 - 5,115 = 5,835.

Calculate (A)net Sales, (B)gross Profit, (C)total Operating Expenses, and (D)net