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A Company Has Net Sales of $1,500,000,sales Commissions in the Amount

Question 67

Multiple Choice

A company has net sales of $1,500,000,sales commissions in the amount of $194,000,net income of $366,400,and the gross profit ratio of 60%.What amount is listed as gross profit on the income statement for the period?


A) $ 563,760
B) $ 600,000
C) $ 783,600
D) $ 900,000
E) $1,119,840

Correct Answer:

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