Given the following information, calculate the firm's NET PROFIT (or LOSS). $$\begin{array} { l l }
\text { Returns and allowances } & \$ 60,000 \
\text { Gross sales } & \$ 460,000 \
\text { Cost of sales } & \$ 200,000 \
\text { Expenses } & \$ 100,000 \
\text { Gross margin } & \$ 200,000
\end{array}$$
A) $85,000
B) $100,000
C) $50,000
D) $160,000
E) a loss of $200,000

Question

Given the following information, calculate the firm's NET PROFIT (or LOSS). $$\begin{array} { l l } 
\text { Returns and allowances } & \$ 60,000 \
\text { Gross sales } & \$ 460,000 \
\text { Cost of sales } & \$ 200,000 \
\text { Expenses } & \$ 100,000 \
\text { Gross margin } & \$ 200,000
\end{array}$$
A) $85,000
B) $100,000
C) $50,000
D) $160,000
E) a loss of $200,000

Quizplus · Accepted Answer

The Answer of Given the following information, calculate the firm's NET PROFIT (or LOSS). $$\begin{array} { l l } 
\text { Returns and allowances } & \$ 60,000 \
\text { Gross sales } & \$ 460,000 \
\text { Cost of sales } & \$ 200,000 \
\text { Expenses } & \$ 100,000 \
\text { Gross margin } & \$ 200,000
\end{array}$$
A) $85,000
B) $100,000
C) $50,000
D) $160,000
E) a loss of $200,000

Given the Following Information, Calculate the Firm's NET PROFIT (Or