During 2018, Parker Enterprises generated revenues of $90,000. The company's expenses were as follows: cost of goods sold of $45,000, operating expenses of $18,000 and a loss on the sale of equipment of $3,000. Parker's gross profit is

Question

Quizplus · Accepted Answer

Gross profit is calculated as revenues minus the cost of goods sold. Therefore, $90,000 - $45,000 = $45,000.

During 2018, Parker Enterprises Generated Revenues of $90,000