Toby's Farm Store buys portable generators for $500 and sells them for $800.He pays a sales commission of 5% of sales revenue to his sales staff.Toby pays $2,000 a month rent for his store,and also pays $1,800 a month to his staff in addition to the commissions.Toby sold 200 generators in June.
-If Toby prepares a traditional income statement for the month of June,what would be his gross profit?
A)$260,000
B)$160,000
C)$60,000
D)$100,000

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The Answer of  Toby's Farm Store buys portable generators for $500 and sells them for $800.He pays a sales commission of 5% of sales revenue to his sales staff.Toby pays $2,000 a month rent for his store,and also pays $1,800 a month to his staff in addition to the commissions.Toby sold 200 generators in June.
-If Toby prepares a traditional income statement for the month of June,what would be his gross profit?
A)$260,000
B)$160,000
C)$60,000
D)$100,000

Toby's Farm Store Buys Portable Generators for $500 and Sells