Use a Modern Software Tool to Perform Statistical Calculations -Which of the Following Would Be Used to Calculate the the Spreadsheet

question 59

Multiple Choice

Use a modern software tool to perform statistical calculations. Using the spreadsheet below to answer the following question(s) .
The spreadsheet below shows the net income model for a company that sells shoes. $\begin{array}{|l|l|l|} \hline& \text { A } & \text { B } \\\hline 1 & \text { Net Income Model } & \\\hline 2 & & \\\hline 3 & \text { Data } & \\\hline 4 & & \\\hline 5 & \text { Sales } & \$ 10,000,000 \\\hline 6 & \text { Cost of Goods Sold } & \$ 6,400,000 \\\hline 7 & \text { Administrative Expenses } & \$ 500,000 \\\hline 8 & \text { SellingExpenses } & \$ 900,000 \\\hline 9 & \text { Depreciation Expenses } & \$ 750,000 \\\hline 10 & \text { Interest Expenses } & \$ 70,000 \\\hline 11 & \text { Taxes } & \$ 620,000 \\\hline 12 & & \\\hline 13 & \text { Model } & \\\hline 14 & & \\\hline 15 & \text { Gross Profit } & \$ 3,600,000 \\\hline 16 & \text { Operating Expenses } & \$ 2,150,000 \\\hline 17 & \text { Net Operating Income } & \$ 1,450,000 \\\hline 18 & \text { Eamings Before Taxes } & \$ 1,380,000 \\\hline 19 & & \\\hline 20 & \text { Net Income } & \\\hline\end{array}$
-Which of the following would be used to calculate the gross profit?

• A) =SUM(B7:B11)-B6
• B) =B5-B6
• C) =B5-(B6-B11)
• D) =B5-B6+(B11-B10)

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Definitions:

Medium Of Exchange

An intermediary instrument, such as money, used to facilitate buying and selling goods and services.

Money

A medium of exchange that facilitates trade, serves as a unit of account, a store of value, and sometimes, a standard of deferred payment.

Commodity

A basic good used in commerce that is interchangeable with other goods of the same type.

Legal Tender

U.S. currency that constitutes a valid and legal offer of payment of debt.