Multiple Choice
Lennox Limited reported sales of $5,000,000, cost of goods sold of $3,200,000, operating expenses of $1,400,000, and income tax expense of $160,000 for the year.What is the gross profit for the year?
A) $240,000
B) $400,000
C) $1,800,000
D) $3,200,000
Correct Answer:
Verified
Correct Answer:
Verified
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