Calculate gross profit, depreciation expense on equipment

Calculate gross profit

Reference no: EM133654957

Question: A company reports the following info: COGS $427,600; sales revenue $1,235,000; common stock $120,000; gain on sale of old delivery truck $1,200; sales returns $17,400; depreciation expense on equipment $82,400; dividends paid to shareholders 280,000. Income tax rate is 25%. Calculate gross profit.

Reference no: EM133654957

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Calculate gross profit : depreciation expense on equipment $82,400; dividends paid to shareholders 280,000. Income tax rate is 25%. Calculate gross profit.

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