Reference no: EM132671924

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

Problem 1: The revised profit figures would be:

Select one:

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