Answer:
$100,000
Explanation:
The computation of gross profit is shown below:-
Gross profit = (Sales revenue - Sales return - Sales discount) - Cost of goods sold
= ($350,000 - $50,000 - $20,000) - $180,000
= $280,000 - $180,000
= $100,000
Therefore we simply applied the above formula for determining the gross profit
<h2>Grants are typically needs-based while scholarships are typically merit-based.
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Explanation:
Option 1:
This is invalid because grands are usually need based and scholarships are usually merit-based.
Option 2:
This is the right answer.
Grants are often given considering the family background in terms of financial situation.
Merit-based are often based on GPA that the student secure
Option 3:
This stands invalid because you need not write any essay.
Option 4:
This is also invalid because both Federal and state governments offer both Grants and merit-based scholarships.
Answer: Form 8-K
Explanation:
An 8-K is a report the corporate changes that happens at an organization. The information given in form 8-K is important to the shareholders of the organization and also to the Securities and Exchange Commission.
Events such as bankruptcy, acquisitions, resignation of directors can all be seen in the report.
Answer:
$207000 is the sales revenue for the year.
Explanation:
The given situation is:
Sales Revenue 100%
Cost Of Goods sold <u> 60% </u>
Profit Margin 40%
Now we neither have sales revenue figure nor the profit margin figures but we can calculate cost of goods sold from the following formula:
Cost Of Goods Sold = Opening Inventory + Purchases - Closing Inventory
By putting values we have:
Cost Of Goods Sold = $54,000 + $109,800 - $39,600
Cost Of Goods Sold = $124,200
Now cost of goods sold is 60% which means if we want to go at 100% we will divide with the percentage at which we are standing (60%) and multiply with the percentage which we want to calculate (Sales is 100%).
Sales revenue = Cost of goods sold * 100% / 60%
Sales revenue = $124200 * 100% / 60% = $207,000
