A Company Has Net Sales of $1,500,000,sales Commissions in the Amount

question 67

Multiple Choice

A company has net sales of $1,500,000,sales commissions in the amount of $194,000,net income of $366,400,and the gross profit ratio of 60%.What amount is listed as gross profit on the income statement for the period?

• A)$ 563,760
• B)$ 600,000
• C)$ 783,600
• D)$ 900,000
• E)$1,119,840

---

Definitions:

Validity

The accuracy of a given measurement.

Consistency Result

Consistency result describes a situation in logic or mathematics where a set of statements or equations do not contradict each other and can coexist without generating errors.

Secondary Analysis

A research method involving analysis of existing data.

Code Analyze

The examination and evaluation of source code to identify errors, improve efficiency, and ensure that it meets all the necessary requirements or standards.