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How much was quartz gross profit

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Problem 1: Quartz Corporation had the following account balances: Sales, $875,000; Sales Returns and Allowances, $73,000; Cost of Goods Sold, $580,000; and Selling, General & Administrative Expenses, $120,000. How much was Quartz's gross profit?

Option 1: $802,000

Option 2: $102,000

Option 3: $875,000

Option 4: $222,000

Option 5: $248,000

Reference no: EM132927937

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