Reference no: EM132633227

Question - A business reports gross profit of $50,000 and operating profit of $25,000. The following costs were left out by mistake by the bookkeeper:

Freight-in $1,200

Freight-out $2,000

Discount Allowed $2,800

Discount Received $3,200

Find the revised profit figures?

a. Gross profit $48,800; Operating profit $23,400

b. Gross profit $52;000; Operating profit $20,200

c. Gross profit $46;800; Operating profit $22,200

d. Gross profit $50;000; Operating profit $25,000

e. Gross profit $53,200; Operating profit $23,400