Asked by habibatou diallo on May 26, 2024

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Presented here are the components in Bradley Company's income statement. Determine the missing amounts.  Sales  Revenue  Cost of  Goods Sold  Gross  Profit  Operating  Expenses  Net  Income $75,000(a)$35,000( b)$17,000 (c) $86,000$59,000$48,000 (d) \begin{array}{ccccc}\begin{array} { l } \text { Sales } \\\text { Revenue }\end{array} & \begin{array} { c } \text { Cost of } \\\text { Goods Sold }\end{array} & \begin{array} { c } \text { Gross } \\\text { Profit }\end{array} & \begin{array} { c } \text { Operating } \\\text { Expenses }\end{array} & \begin{array} { c } \text { Net } \\\text { Income }\end{array} \\\hline\$ 75,000 & (\mathrm{a}) & \$ 35,000 & (\mathrm{~b}) & \$ 17,000 \\\text { (c) } & \$ 86,000 & \$ 59,000 & \$ 48,000 & \text { (d) }\end{array} Sales  Revenue $75,000 (c)  Cost of  Goods Sold (a)$86,000 Gross  Profit $35,000$59,000 Operating  Expenses ( b)$48,000 Net  Income $17,000 (d) 

Gross Profit

The financial metric representing the difference between revenue and the cost of goods sold, before deducting overheads, salaries, taxes, and interest payments.

Net Income

The net income of a company, which is the amount remaining after deducting all costs and taxes from its total revenue.

Operating Expenses

The ongoing costs incurred in the operation of a business, excluding the cost of goods sold.

  • Understand and calculate the components of an income statement, including sales revenue, cost of goods sold, gross profit, operating expenses, and net income.
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PS
Priyanshu SinghJun 01, 2024
Final Answer :
a. $40000
b. $18000
c. $145000
d. $11000