A company has net sales and cost of goods sold of $825,000 and $547,000,respectively.Its net income is $98,500.The company's gross margin and operating expenses are ________ and ____________,respectively.
A)$209,000; $191,470
B)$278,000; $179,500
C)$278,000; $98,500
D)$179,500; $98,500
E)$645,500; $179,500

Question

Quizplus · Accepted Answer

Gross Margin = Net Sales - Cost of Goods Sold; $825,000 - $547,000 = $278,000
Operating Expenses = Gross Margin - Net Income; $278,000- $98,500 = $179,500
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