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____ [38]
3 years ago
7

A company reports the following information for June: Sales revenue $ 104,000 Income tax expense $ 11,000 Operating expenses 22,

000 Cost of goods sold 65,000 Deferred revenues 15,000 Nonoperating revenues 12,000 What is the company's gross profit for June?
Business
1 answer:
Elodia [21]3 years ago
5 0

Answer:

Gross profit    $39,000

Explanation:

X company

Income statement ( parochial)

For the year ended, June 30 20YY

Sales revenue                                                       $104,000

Less: cost of goods sold                                       $65,000

Gross profit                                                            $39,000

In that case, we do not use Income tax expense, Operating expenses, Deferred revenues, Non-operating revenues because those will be needed when we will calculate the net income.

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Answer:

a. 87.5%

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a. y is calculated as:

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b. Client investment in each stock and in T-bills:

Client investment in each stock = 0.875 * percentage of each stock in a risky portfolio ( because the risky portfolio is accounted for 87.5% of the whole investment)

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If Ms. Anniston transfers $1,000 from her checking account to her savings account, then__________.
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a. M1 falls and M2 remains the same.

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