A classified income statement showed net sales of $1,160,000, cost of goods sold of $545,000, and total operating expenses of $416,000 for the fiscal year ended December 31, 2019.
1. What was the gross profit on sales?
2. What was the net income from operations?

Question

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The Answer of A classified income statement showed net sales of $1,160,000, cost of goods sold of $545,000, and total operating expenses of $416,000 for the fiscal year ended December 31, 2019.
1. What was the gross profit on sales?
2. What was the net income from operations?

A Classified Income Statement Showed Net Sales of $1,160,000, Cost