Determine gross profit of a venture with the followingfinancial information: cost of goods sold = $30,000; net profit = $17,000; asset turnover = 1.6; return on assets 32%
A) $85,000
B) $72,000
C) $55,000
D) $38,000

Question

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The Answer of Determine gross profit of a venture with the followingfinancial information: cost of goods sold = $30,000; net profit = $17,000; asset turnover = 1.6; return on assets 32%
A) $85,000
B) $72,000
C) $55,000
D) $38,000

Determine Gross Profit of a Venture with the Followingfinancial Information