A company reports the following information for June: Sales revenue$104,000 Income tax expense$11,000 Operating expenses 22,000 Cost of goods sold 65,000 Deferred revenues 15,000 Nonoperating revenues 12,000 What is the company's gross profit for June?
A. $104,000.
B. $18,000.
C. $17,000.
D. $39,000.
Answer: D
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Chris and Sarah are married with three qualifying children. Their AGI is $26,000. How much is their EIC (use the EIC formula)? (Round your answer to the nearest dollar)
A. $6,084. B. $1,650. C. $3,461. D. $6,431.
Stealth Software Inc Stealth Software Inc has the following information available from last year for one of its software products: Sales revenue $50,000 Variable costs 15,000 Fixed costs 10,000 Net operating income $25,000 Refer to the Stealth Software Inc information above. If the software had a sales price of $20 per unit, what is the variable cost per unit?
A) $ 20 B) $ 14 C) $ 10 D) $ 6
A common measure of profitability is
A) the quick ratio B) times interest earned ratio C) return on common stockholders' equity ratio D) debt ratio
Many labor relations experts agree that there is a need to revise U.S. labor law. Why is there pressure to update the law and what kind of changes are being considered?
What will be an ideal response?