A company has net sales of sales commissions in the

Question

A company has net sales of $1,500,000, sales commissions in the amount of $194,000, net income of $366,400, and the gross profit ratio of 60%. What amount is 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

Answer

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