Chen Company's financial information is presented below. Sales Revenue $ ???? Cost of Goods Sold 510 , 000 Sales Returns and Allowances 40 , 000 Gross Profit ? ? ? ? Net Sales 850 , 000 \begin{array} { l r l r } ext { Sales Revenue } & \$ ext { ???? } & ext { Cost of Goods Sold } & 510,000 \ ext { Sales Returns and Allowances } & 40,000 & ext { Gross Profit } & ? ? ? ? \ ext { Net Sales } & 850,000 & & \end{array} Sales Revenue Sales Returns and Allowances Net Sales $ ???? 40 , 000 850 , 000 Cost of Goods Sold Gross Profit 510 , 000 ???? The missing amounts above are: Sales Revenue ‾ Gross Profit ‾ \begin{array}{lrr} \underline{ ext { Sales Revenue } } & \underline{ ext { Gross Profit } }\\end{array} Sales Revenue Gross Profit A) $ 890 , 000 $ 340 , 000 \begin{array}{ll} \$ 890,000 & & & & \$ 340,000 \\end{array} $890 , 000 $340 , 000 B) $ 810 , 000 $ 340 , 000 \begin{array}{ll} \$ 810,000 & & & & \$ 340,000 \\end{array} $810 , 000 $340 , 000 C) $ 890 , 000 $ 300 , 000 \begin{array}{ll} \$ 890,000 & & & & \$ 300,000 \\end{array} $890 , 000 $300 , 000 D) $ 810 , 000 $ 380 , 000 \begin{array}{ll}\$ 810,000 & & & & \$ 380,000\end{array} $810 , 000 $380 , 000

Question

Chen Company's financial information is presented below.    Sales Revenue  $  ????   Cost of Goods Sold  510 , 000  Sales Returns and Allowances  40 , 000  Gross Profit  ? ? ? ?  Net Sales  850 , 000 \begin{array} { l r l r } 	ext { Sales Revenue }  & \$ 	ext { ???? }  &  	ext { Cost of Goods Sold }  &  510,000 \	ext { Sales Returns and Allowances }  &  40,000  &  	ext { Gross Profit }  &  ? ? ? ? \	ext { Net Sales }  &  850,000  &   & \end{array}  Sales Revenue   Sales Returns and Allowances   Net Sales  ​ $  ????  40 , 000 850 , 000 ​  Cost of Goods Sold   Gross Profit  ​ 510 , 000 ???? ​   The missing amounts above are:    Sales Revenue  ‾  Gross Profit  ‾ \begin{array}{lrr}  \underline{ 	ext { Sales Revenue } } &   \underline{	ext {  Gross Profit } }\\end{array}  Sales Revenue  ​ ​  Gross Profit  ​ ​ A)  $ 890 , 000 $ 340 , 000 \begin{array}{ll} \$ 890,000  & & & &  \$ 340,000 \\end{array} $890 , 000 ​ ​ ​ ​ $340 , 000 ​ B)  $ 810 , 000 $ 340 , 000 \begin{array}{ll} \$ 810,000  & & & &  \$ 340,000 \\end{array} $810 , 000 ​ ​ ​ ​ $340 , 000 ​ C)  $ 890 , 000 $ 300 , 000 \begin{array}{ll} \$ 890,000  & & & &  \$ 300,000 \\end{array} $890 , 000 ​ ​ ​ ​ $300 , 000 ​ D)  $ 810 , 000 $ 380 , 000 \begin{array}{ll}\$ 810,000  & & & &  \$ 380,000\end{array} $810 , 000 ​ ​ ​ ​ $380 , 000 ​

Vanessa Herrera · Accepted Answer

Final Answer : A

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