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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
The following information relates to Newman and Foster, Inc.

Sales Revenue   $240,000
Cost of Goods Sold   150,000
Interest Revenue   12,000
Operating Expenses   42,500
Sales Discounts   18,000
Sales Returns and Allowances   7,000

Calculate the net income of Newman and Foster.
A) $240,000
B) $77,500
C) $22,500
D) $34,500
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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Mrgo-breedMrgo-breed
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7 years ago
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H3Ko Author
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#2
7 years ago
I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right
wrote...
#3
7 years ago
Happy to help Smiling Face with Open Mouth
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