Essay
During October, 2010, Carol's Catering Company generated revenues of $13,000. Sales discounts totaled $200 for the month. Expenses were as follows: Cost of goods sold of $7,000 and operating expenses of $2,000.
Calculate (1) gross profit and (2) income from operations for the month.
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(1) Gross profit: $5,800 ($13,...View Answer
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