113_u5 HomeWork Assingment ShalimyrDiazMaldonado - Exercise 4-1 Show your work a take 1,375,000 and subtract it from 880,000 which equals 495,000(gross

113_u5 HomeWork Assingment ShalimyrDiazMaldonado - Exercise...

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Exercise 4-1 Show your work. a. take 1,375,000 and subtract it from 880,000 which equals 495,000 (gross profit) b. take the gross profit 495,000 then divide it by the merchandise sold 1,375,000 which equals .36 or 36% (.36 *100) c. Yes, I do feel that the income statement will necessarily report a net income.
Exercise 4-6Show your work.

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