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Marianna [84]
3 years ago
5

Using the information below, calculate gross profit for the period:

Business
1 answer:
patriot [66]3 years ago
8 0

Answer:

a. $749,000.

Explanation:

The computation of the gross profit is shown below:

Gross profit = Sales Revenues for the period - Cost of Goods Sold for the period

= $1,324,000 - $575,000

= $749,000

It is shown in the income statement

We simply deduct the cost of goods sold from the sales revenue so that the gross profit can come

All other information which is given is not relevant. Hence, ignored it

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NeTakaya

Scanner-based research is a system for gathering information from a single group of respondents by continuously monitoring the advertising, promotion, and pricing they re exposed to and the things they buy.

  • scanner-based investigation.
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3 0
2 years ago
The statement of retained earnings or the statement of stockholders' equity reconciles the net income, dividends paid, and the c
sdas [7]

Answer:

1.

Option B is the correct answer.

2.

Dividends Paid = $55 million. Thus, option C is the correct answer.

Explanation:

1.

The statement about shareholders' equity given in option A that it is the difference between the paid-in capital and retained earnings is incorrect as the retained earnings are a part of the equity of shareholders and are included in the calculation of shareholders' equity. Thus, option B is the correct answer.

2.

The Net Income earned by a company is usually treated in two ways. It is either paid out as dividends to the shareholders or is retained in the business and transferred to the retained earnings account or both. Thus, we can calculate the amount of dividends paid by the following equation.

Closing balance of retained earnings = Opening balance of retained earnings  +  Net Income for the period  -  Dividends Paid

700  =  595  +  160  -  Dividends Paid

700 + Dividends Paid =  755

Dividends Paid = 755 - 700

Dividends Paid = $55 million

4 0
3 years ago
What are three of the common factors that make local economies different?
vitfil [10]

Answer:

Marketplace, advancements in technology, and investments

Explanation:

Various factors are involved which make a local economy different such as marketplace, advancement in technology and investment. These three are the most important and critical factors which distinguish local economies from the global or international market. The above three factors are important for economic growth and can take an economy from a developing to a developed economy.

8 0
3 years ago
To become an architect, you need six years of education. To become a physical therapist, you need two years of education. Which
Sloan [31]
Architect, they have to have four more years of education.
Even though I'd think a therapist makes more.
8 0
3 years ago
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Nationally what two factors caused the bubble in the real estate market
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Low interest rates and loose credit standards

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