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HELP ASAP A company had sales revenue of $1,000,000 last year. Its operating expenses were $100,000 and its income tax expense was $10,000. Additionally, the company had $20,000 in sales returns and cost
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17 votes
17 votes
HELP ASAP

A company had sales revenue of $1,000,000 last year. Its operating expenses were $100,000 and its income tax expense was
$10,000. Additionally, the company had $20,000 in sales returns and cost of goods sold of $500,000. What was its gross profit?

User Rhys Stephens
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1 Answer

18 votes
18 votes

Answer: 480,000

This should be the gross profit, but if I'm wrong please let me know and ill try to fix it. :)

User Sgotenks
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