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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 $1,200Freight-out $2,000Discount Allowed $2,800Discount Received $3,200
Problem 1: The revised profit figures would be:
Select one:
a. Gross profit $48,800; Operating profit $23,400b. Gross profit $52;000; Operating profit $20,200c. Gross profit $46;800; Operating profit $22,200d. Gross profit $50;000; Operating profit $25,000e. Gross profit $53,200; Operating profit $23,400
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