Evening Story Corporation has sales of $4,263,098;income tax of $594,2394, selling, general and adminstrative expenses of...

Evening Story Corporation has sales of $4,263,098;income tax of $594,2394, selling, general and adminstrative expenses of $223,070; depreciation of $379,926; cost of goods sold of $2,777,954 and interest expense of $122,806. What is firms gross profit?

Expert Solution

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Please find the answer below.

Statement showing computation:

Sales= $4263098

Cost of goods sold= $2777954

Gross profit= Sales-cost of goods sold

Gross profit= 4263098-2777954= 1485144

Gross profit= $1485144

jeff jeffy answered 2 years ago

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