Use This Information to Answer the Following Question Gross Margin from Sales Would Be
A) $62,000

question 162

Multiple Choice

Use this information to answer the following question. The selected accounts and balances for Keystone Market appear as follows:
$$\begin{array} { l r } \text { Advertieing Esguense } & 14,000 \\\text { Common Stock } & 100,000 \\\text { Dividends } & 21,000 \\\text { Fraight-In } & 7,000 \\\text { Freight-Out Esgense } & 10,000 \\\text { Interest Income } & 24,000 \\\text { Merchandise Inventory (Jan. 1) } & 70,000 \\\text { Merchandise Inventory (Dec. 31) } & 56,000 \\\text { Purchases } & 60,000 \\\text { Purchases Returns and Allowances } & 4,000 \\\text { Rent Exgense } & 9,000 \\\text { Retained Earning } & 40,000 \\\text { Sales } & 151,000 \\\text { Sales Returns and Allowances } & 19,000 \\\text { Wages Engense } & 32,000\end{array}$$ Gross margin from sales would be

• A) $62,000.
• B) $55,000.
• C) $74,000.
• D) $68,000.

---

Definitions:

Decertify

The process of revoking or removing the official recognition or certification of a role, organization, or activity, often related to unions.

Bargain

The act of negotiating terms between two parties, such as between employers and employees over wages and working conditions.

Union Certification

The official recognition by a government agency that a trade union represents the majority of workers in a bargaining unit, allowing it to negotiate on their behalf.

Labour Agreement

A formal agreement between employers and employees (often through unions) outlining terms of employment, wages, and conditions.