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

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Definitions:

Sarcoidosis

An inflammatory disease characterized by the formation of granulomas, small clumps of immune cells, in various organs in the body.

Lungs

Paired respiratory organs in the chest, responsible for gas exchange between the air and the blood, primarily oxygen intake and carbon dioxide expulsion.

SCID

Severe Combined Immunodeficiency, a rare genetic disorder characterized by the disturbed development of functional T cells and B cells caused by numerous genetic mutations, leading to severe immune system impairment.

B-Cells

A type of white blood cell that plays a vital role in the immune response by producing antibodies against pathogens.