Calculate (A)net sales, (B)gross profit (C)total operating expenses, and (D)net income.
Sales returns $600, rent expense $1,700, sales discounts $1,800, depreciation expense $490, cost of merchandise sold $7,200, gross sales $19,900, advertising expense $650, salary expense $2,500, heat expense $850.

Question

Quizplus · Accepted Answer

A. 19,900 - 600 - 1,800 = 17,500; B. 17,500 - 7,200 = 10,300; C. 1,700 + 490 + 650 + 2,500 + 850 = 6,190; D. 10,300 - 6,190 = 4,110.

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