Use this information for Train Corporation to answer the questions that follow.

The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31:

-The gross profit for the Rails Division is
A) $60,800
B) $33,600
C) $8,700
D) $21,150

Question

Use this information for Train Corporation to answer the questions that follow.
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The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31:
​
 
-The gross profit for the Rails Division is
A) $60,800 
B) $33,600 
C) $8,700 
D) $21,150

Quizplus · Accepted Answer

Gross profit for Rails Division can be calculated by subtracting cost of goods sold from revenue.
Revenue - Cost of Goods Sold = Gross Profit
$183,000 - $122,200 = $60,800

Use This Information for Train Corporation to Answer the Questions