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What is the gross profit for john

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Problem 1: John starts his textbook business in 2020 with $2,000 owner's capital. In 2020, he bought 10 textbooks at $1,000 and sold 5 of them at $600. There is no other transaction during 2020. What is the gross profit in 2020?

A. $600
B. $2,000
C. $100
D. -$400

Reference no: EM132828248

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