Question 3 Idaho Software has $1,000,000 in sales, $13,000 in COGS, $138,000 in Selling and Distribution Expenses, and $200,000 in taxes. Compute the company’s Gross Profit.
O $649,000
O $987,000
O $849,000
O $862,000
Question 4 One expense that is subtracted in order to compute Operating Profit (or EBIT) is
O Taxes
O General and Administrative Expenses
O Interest Expense
O Profit from Investments
Question 1 A company has Cash = $200,000; Inventory = $250,000; Accounts Receivable = $150,000; Fixed Assets = $300,000; Long Term Liabilities = $ 50,000; and Accounts Payable = $75,000. Compute the company’s Current Asset balance.
O $900,000
O $400,000
O $600,000
O $450,000
Question 2 A company’s net worth statement is also known as its
O Cash Flow Statement
O Profit and Loss Statement
O Balance Sheet
O Income Statement
