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Q: A classified income statement showed net sales of $435,000, cost of goods sold of $188,000, and total operating expenses of $165,000 for the fiscal year ended June 30, 2011. What was the gross profit
on sales?
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User: A classified income statement showed net sales of $435,000, cost of goods sold of $188,000, and total operating expenses of $165,000 for the fiscal year ended June 30, 2011. What was the gross profit on sales?

Weegy: The gross profit is $788,000.
patmarone|Points 4358|

User: A classified income statement showed net sales of $435,000, cost of goods sold of $188,000, and total operating expenses of $165,000 for the fiscal year ended June 30, 2011. What was the gross profit on sales?

Weegy: The gross profit is $788,000.
patmarone|Points 4358|

Question
Asked 4/6/2012 10:08:16 PM
Updated 4/6/2012 10:34:06 PM
1 Answer/Comment
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Gross profit = Net sales - Cost of goods sold.
Gross profit = $435,000 - $188,000
The Gross profit on sales is $247,000
Added 4/6/2012 10:34:06 PM
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