Financial information is presented below: $$\begin{array} { l r }
\text { Operating expenses } & \$ 45,000 \
\text { Sales returns and allowances } & 3,000 \
\text { Sales discounts } & 7,000 \
\text { Sales revenue } & 160,000 \
\text { Cost of goods sold } & 96,000
\end{array}$$ Gross profit would be
A)$61,000.
B)$64,000.
C)$54,000.
D)$67,000.

Question

Financial information is presented below: $$\begin{array} { l r } 
\text { Operating expenses } & \$ 45,000 \
\text { Sales returns and allowances } & 3,000 \
\text { Sales discounts } & 7,000 \
\text { Sales revenue } & 160,000 \
\text { Cost of goods sold } & 96,000
\end{array}$$ Gross profit would be
A)$61,000.
B)$64,000.
C)$54,000.
D)$67,000.

Quizplus · Accepted Answer

The Answer of Financial information is presented below: $$\begin{array} { l r } 
\text { Operating expenses } & \$ 45,000 \
\text { Sales returns and allowances } & 3,000 \
\text { Sales discounts } & 7,000 \
\text { Sales revenue } & 160,000 \
\text { Cost of goods sold } & 96,000
\end{array}$$ Gross profit would be
A)$61,000.
B)$64,000.
C)$54,000.
D)$67,000.

Financial Information Is Presented Below Gross Profit Would Be A)$61,000

Financial Information Is Presented Below Gross Profit Would Be
A)$61,000