Gross Profit is calculated by deducting the cost of goods sold, sales return and sales discount from the sales. The operating expenses is not considered for gross profit. The same is deducted from the gross profit for finding the net profit.
Gross Profit = Sales - Cost of goods sold - Sales Return - Sales Discount
Gross Profit = $150,000 - $67,000 - $13,000 - $6,000
Gross Profit = $150,000 - $86,000
Gross Profit = $ 64,000
Thus, gross profit is $64,000
Answer:
Simple rate of return = 6.25%
Explanation:
As per the data given in the question,
Net operating income = saving - depreciation on machine
Investment = cost price - scrap value
So, we can calculate the simple rate of return by using following formula:
Simple rate of return = Net operating income ÷ investment
By putting the value, we get
= ($138,000 - $89,200) ÷ ($802,800 - $22,200)
= 0.0625
= 6.25%
John <em><u>had</u></em><em><u> </u></em> a difficult time at the university this year
Woodrow Wilson was really one of the first major economically liberal presidents in the sense that he was proactive in fighting trusts, inflation, and corruption in big business.
The most appropriate answer is Entrepreneurs believe they can make a profit from their invention
That's why a lot of entrepreneurs were a college dropout. Rather than following what people say they have to do in order to earn money, they believe in their inventions and decided to pursue it
