The Callie Company Has Provided the Following Information: Operating Expenses

question 30

Multiple Choice

The Callie Company has provided the following information: Operating expenses were $231,000;
Cost of goods sold was $376,000;
Net sales were $940,000;
Interest expense was $32,000;
Gain on sale of a building was $76,000;
Income tax expense was $151,000.
What was Callie's gross profit?

• A)$564,000.
• B)$188,000.
• C)$333,000.
• D)$232,000.

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Definitions:

Post Fertilization

The stage in the reproductive process that occurs after the fusion of gametes, involving embryo development and seed formation in plants.

Embryo

An early stage of development in multicellular organisms after fertilization and before becoming a fetus, characterized by rapid cell division and differentiation.

Gamete

Mature, haploid reproductive cell; e.g., a sperm.

Ovary

In flowering plants, the enlarged base of a carpel, inside which one or more ovules form and eggs are fertilized. In animals, the egg-producing gonad.