Question

Year 1 $ 76,050 $enter a dollar amount (b) $ 32,700 $enter a dollar amount (d) $14,130 Year 2 $111,100 $74,400 $enter a dollar amount (c) $enter a dollar amount (e) $30,070 Year 3 $enter a dollar amount (a) $74,970 $111,190 $49,980 $enter a dollar amount (f)

Answer 1

Year 1

b. Cost of goods sold

= Sales revenue - Gross profit

= 76,050 - 32,700

= $43,350

d. Operating expenses:

= Gross profit - Net income

= 32,700 - 14,130

= $18,570

Year 2

c. Gross Profit

= Sales revenue - Cost of goods sold

= 111,100 - 74,400

= $36,700

e. Operating expenses:

= Gross profit - Net income

= 36,700 - 30,070

= $6,630

Year 3

a. Sales revenue

= Cost of goods sold + Gross profit

= 74,970 + 111,190

= $186,160

f. Net income

= Gross profit - Operating expense

= 111,190 - 49,980

= $61,210

Note: Attached photo is for a similar question. It was used to understand the format.