Financial information is presented below: $$\begin{array} { l r }
\text { Operating expenses } & \$ 35,000 \
\text { Sales returns and allowances } & 12,000 \
\text { Sales discounts } & 3,000 \
\text { Sales revenue } & 140,000 \
\text { Cost of goods sold } & 85,000
\end{array}$$ The gross profit rate would be
A) .68.
B) .39.
C) .32.
D) .34.

Question

Financial information is presented below: $$\begin{array} { l r } 
\text { Operating expenses } & \$ 35,000 \
\text { Sales returns and allowances } & 12,000 \
\text { Sales discounts } & 3,000 \
\text { Sales revenue } & 140,000 \
\text { Cost of goods sold } & 85,000
\end{array}$$ The gross profit rate would be
A) .68.
B) .39.
C) .32.
D) .34.

Quizplus · Accepted Answer

The Answer of Financial information is presented below: $$\begin{array} { l r } 
\text { Operating expenses } & \$ 35,000 \
\text { Sales returns and allowances } & 12,000 \
\text { Sales discounts } & 3,000 \
\text { Sales revenue } & 140,000 \
\text { Cost of goods sold } & 85,000
\end{array}$$ The gross profit rate would be
A) .68.
B) .39.
C) .32.
D) .34.

Financial Information Is Presented Below The Gross Profit Rate Would Be A)

Financial Information Is Presented Below The Gross Profit Rate Would Be
A)