Income statement for merchandiser
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natryn91775
Business Finance
Description
For the fiscal year, sales were $8,135,000, sales discounts were $795,000, sales returns and allowances were $475,000, and the cost of merchandise sold was $5,1000,000.
A) what was the amount of net sales?
B) What was the amount of gross profit?
C) If total operating expenses were $1,350,000, could you determine net income?
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