A classified income statement showed net sales of $435,000, cost of goods sold of $188,000, and total operating expenses of $165,000 for the fiscal year ended June 30, 2013.
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 $435,000, cost of goods sold of $188,000, and total operating expenses of $165,000 for the fiscal year ended June 30, 2013.
1. What was the gross profit on sales?
2. What was the net income from operations?

A Classified Income Statement Showed Net Sales of $435,000, Cost