A Company Had Expenses Other Than Cost of Goods Sold

Multiple Choice

A company had expenses other than cost of goods sold of $250,000.Determine sales and gross profit given cost of goods sold was $100,000 and net income was $150,000.

A) Sales: $350,000; gross profit: $150,000
B) Sales: $350,000; gross profit: $50,000
C) Sales: $500,000; gross profit: $400,000
D) Sales: $500,000; gross profit: $50,000
E) Sales: $400,000; gross profit: $500,000