Multiple Choice
A company has net sales of $1,500,000,sales commissions in the amount of $194,000,net income was $366,400,and the gross profit ratio is 60%,what amount 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:
Verified
Correct Answer:
Verified
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