Stefanko Manufacturing has prepared the following income statement:
$\begin{array}{ll}
\text { Sales }&\$450,000\
\text { Cost of goods sold }&200,000\
\text { Gross margin } & 250,000 \
\text { Operating expenses } & 196,000\
\text { Operating income }&\$54,000
\end{array}$
According to company records,$100,000 of Cost of Goods Sold and $100,000 of Operating Expenses are fixed.
Required:

Question

Stefanko Manufacturing has prepared the following income statement:
 $\begin{array}{ll}
\text { Sales }&\$450,000\
\text { Cost of goods sold }&200,000\
\text { Gross margin } & 250,000 \
\text { Operating expenses } & 196,000\
\text { Operating income }&\$54,000
\end{array}$ 
According to company records,$100,000 of Cost of Goods Sold and $100,000 of Operating Expenses are fixed.
Required:

Quizplus · Accepted Answer

The Answer of Stefanko Manufacturing has prepared the following income statement:
 $\begin{array}{ll}
\text { Sales }&\$450,000\
\text { Cost of goods sold }&200,000\
\text { Gross margin } & 250,000 \
\text { Operating expenses } & 196,000\
\text { Operating income }&\$54,000
\end{array}$ 
According to company records,$100,000 of Cost of Goods Sold and $100,000 of Operating Expenses are fixed.
Required:

Stefanko Manufacturing Has Prepared the Following Income Statement According to Company Records,$100,000 of Cost of Goods Sold and Sales