Financial information is presented below:
Operating Expenses $ 45,000
Sales 150,000
Cost of Goods Sold 77,000
Gross profit would be
A) $105,000.
B) $28,000.
C) $73,000.
D) $150,000.

Question

Quizplus · Accepted Answer

Gross profit is calculated by subtracting cost of goods sold from sales. Therefore, 
Gross profit = Sales - Cost of Goods Sold = $150,000 - $77,000 = $73,000. The operating expenses are not a part of gross profit calculation.

Financial Information Is Presented Below