Vital Company Had Net Income on This Period's Income Statement

question 2

Multiple Choice

Vital Company had net income on this period's income statement in the amount of $624,240,other expense in the amount of $381,480 and a gross profit ratio of 58%,what was the amount of net sales on the income statement?

• A)$1,836,000
• B)$ 1,076,276
• C)$1,734,000
• D)Can't be determined with the information given
• E)$1,005,720

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Definitions:

Discrete Random Variables

Random variables that take on a countable number of distinct values.

Continuous Random Variables

Variables that can take on any values within a continuous range, as opposed to discrete variables that have specific, separate values.

Normal Distribution

It's a probability distribution where the frequency of data decreases as the distance from the mean increases, exhibiting symmetry about the mean.

Standard Deviation

A statistical measure that quantifies the dispersion or spread of a set of data points around their mean.