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Business, 16.06.2020 23:57 samoc22

For Mortenson Company, the following information is available: Cost of goods sold $390,000
Dividend revenue 15,000
Income tax expense 36,000
Operating expenses 138,000
Sales revenue 600,000

In Mortenson's single-step income statement, gross profit:

a. should not be reported.
b. should be reported at $51,000.
c. should be reported at $210,000
d. should be reported at $225,000

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Answers: 3

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For Mortenson Company, the following information is available: Cost of goods sold $390,000
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