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How much is the net income for abc company

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Problem 1: ABC Company registered a total sales is P150,000 for the month of April and gross profit rate based on sales is 20%. Total operating expenses amounted to P10,000. How much is the net income?

a. 10,000
b. none of the above
c. 20,000
d. 15,000

Reference no: EM132737961

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