U.S.Carburetion Inc.makes natural gas and gasoline powered generators.Assume the company had $100,000 in net sales for the week of September 11^th.Cost of goods sold was $42,000.On an income statement, the remaining $58,000 would be classified as:

Question

Quizplus · Accepted Answer

The remaining $58,000 is classified as gross profit, which is calculated by subtracting the cost of goods sold ($42,000) from the net sales ($100,000).

USCarburetion Inc