(SOLVED) For each company, calculate the missing amount.
Discipline: Business
Type of Paper: Question-Answer
Academic Level: Undergrad. (yrs 3-4)
Paper Format: APA
Pages: 1
Words: 275
Question
For each company, calculate the missing amount.
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Expert Answer
Formula used
Sales Revenue- Cost of Goods Sold= Gross profit - Oprating Expenses = Net Income
Missing Amount calculation.
Lennon:- Cost of Goods sold = Sales - Gross Profit= $ 18000 - $ 8000= $ 10000
Harrison:-Gross Profit = Sales - Cost of good sold = $20000- 11000 =$ 9000
McCartney :- Operation Expenses= Gross profit - Net income= $ 4000- $1500= $ 2500
Starr :- Net income= Gross Profit- Operating Expenses= $ 10000-$6500 = $3500