Financial information is presented below: Operating expenses $ 45000 Sales returns and allowances 3000 Sales discounts 7000 Sales revenue 160000 Cost of goods sold 96000 Gross Profit would be $64000. $54000. $61000. $67000.
Added by Alexandra T.
Step 1
To do this, we subtract sales returns and allowances and sales discounts from the sales revenue: Net sales revenue = Sales revenue - Sales returns and allowances - Sales discounts Net sales revenue = 160000 - 3000 - 7000 Net sales revenue = 150000 Show more…
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