Question
In: Finance
A-Rod Fishing Supplies had sales of $2,680,000 and cost of goods sold of $2,080,000. Selling and...
A-Rod Fishing Supplies had sales of $2,680,000 and cost of goods
sold of $2,080,000. Selling and administrative expenses represented
10 percent of sales. Depreciation was 5 percent of the total assets
of $4,530,000.
What is the firms operating profit?
Solutions
Expert Solution
Operating profit = Sales - Cost of goods sold - Selling and administrative expenses - Depreciation
Operating profit = $2,680,000 - $2,080,000 - ($2,680,000 * 0.10) - ($4,530,000 * 0.05)
Operating profit = $105,500
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