Use This Information to Answer the Following Question

question 87

Multiple Choice

Use this information to answer the following question. If the income statement were prepared in a multistep form,gross margin from sales would be

• A)$75,750.
• B)$72,000.
• C)$67,000.
• D)$82,000.

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Definitions:

War In Afghanistan

War fought against the Taliban and Al Qaeda in Afghanistan following the attacks of September 11, 2001. It remains the longest war in American history.

2008 Financial Crisis

A global financial downturn initiated by the collapse of the housing bubble in the United States, leading to widespread economic hardship.

Subprime Mortgages

Loans given to borrowers with lower credit scores at higher interest rates than standard mortgages, significantly contributing to the 2008 financial crisis.

Unemployment Rate

A measure of the percentage of the workforce that is jobless and actively looking for employment.