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ikadub [295]
2 years ago
8

Based on the following information, calculate net income for Dana's Dress Shop using the traditional format. Sales $360,000 Gros

s Margin $140,000 Contribution Margin $110,000 Total Selling & Administrative Exp. $60,000
Business
1 answer:
stich3 [128]2 years ago
7 0

Answer:

$80,000

Explanation:

Calculation for the net income for Dana's Dress Shop using the traditional format

NET INCOME USING TRADITIONAL FORMAT

Using this formula

NET INCOME=Gross Margin -Total Selling & Administrative Expenses

Where,

Gross Margin =$140,000

Total Selling & Administrative Expenses=$60,000

Let plug in the formula

NET INCOME=$140,000-$60,000

NET INCOME=$80,000

Therefore the NET INCOME will be $80,000.

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