The Following Information Is Available for Wade Corp A CVP Income Statement Would Report
A)gross Profit of $160,000

Multiple Choice

The following information is available for Wade Corp.: $$\begin{array} { l r l } \text { Sales } & \$ 550,000 & \text { Total fixed expenses }& \$ 150,000 \\\text { Cost of goods sold } & 390,000 & \text { Total variable expenses } &360,000\end{array}$$ A CVP income statement would report

A) gross profit of $160,000.
B) contribution margin of $400,000.
C) gross profit of $190,000.
D) contribution margin of $190,000.