Use the Information Given Below to Answer the Following Questions

question 44

Multiple Choice

Use the information given below to answer the following questions:
During the year, Grasso Ltd sold 2000 items at $30 each. The cost price of the items was $22 each. Operating expenses totalled $7000 and income tax expense was $4000.
-What was the gross profit of Grasso Ltd for the year?

• A) $60 000
• B) $16 000
• C) $11 000
• D) $5000.

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Definitions:

Paul Laurence Dunbar

An African American poet, novelist, and playwright of the late 19th and early 20th centuries known for his dialectic verse and engagement with Black life in the United States.

Charles W. Chesnutt

An African American author and political activist, known for his novels and short stories exploring complex racial identities in the post-Civil War South.

Frances Ellen Watkins Harper

A 19th-century African American abolitionist, poet, and author, known for her writings on social issues, including women's rights, slavery, and racial justice.

Liberal Arts

An educational discipline that includes the humanities, social sciences, and natural sciences, designed to provide a broad knowledge and cultivate critical thinking and analytical skills.