Suppose a company reports the following information at December 31, 2019:
Sales$15,000,000
Cash$ 3,000,000
Unearned Revenue$ 400,000
Dividends$ 1,000,000
Cost of Sales$ 8,500,000
What is the company's Gross Profit?
A. $ 6,100,000
B. $ 5,500,000
C. $ 6,500,000
D. $12,000,000
Answer: C
Business
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