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Stanley's Bicycles store buys bicycles on average for $600 and sells them on average for $750. He pa

bernie2981

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Stanley's Bicycles store buys bicycles on average for $600 and sells them on average for $750. He pa

Stanley's Bicycles store buys bicycles on average for $600 and sells them on average for $750. He pays a sales commission of 15% of sales revenue to his sales staff. Stanley pays $1,400 a month rent for his store, and also pays $3,000 a month to his staff in addition to the commissions. Stanley sold 120 bicycles in June. If Stanley prepares a traditional income statement for the month of June, what would be his gross profit?
A) $90,000
B) $18,000
C) $72,000
D) $162,000

Textbook

Managerial Accounting

Managerial Accounting

Edition: 4^th

Author: Braun

Read 1684 times

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