A Company Has Net Sales of $1,500,000,sales Commissions in the Amount

question 164

Multiple Choice

A company has net sales of $1,500,000,sales commissions in the amount of $194,000,net income was $366,400,and the gross profit ratio is 60%,what amount 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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