Answer:
$428,000
Explanation:
Gross profit for the period = total sales generated (revenue) - total expenses
Expenses incurred as as follows;
-Selling, general, and administrative expenses = $80,000
-Interest expense = $16,000
-Research and development expenses = $34,000
-Net cash provided by operating activities = $42,000
Income tax expense was $10,000
Total expenses incurred = $182,000
Total sales generated (revenue)
- Net sales = $390,000
- Cost of goods sold = $220,000
Total sales generated = $610,000
Gross profit for the period = $610,000 - $182,000
Gross profit for the period = $428,000
