During Year 1, Knight Company recorded the following information on its Income Statement: Sales revenue: $500,000 Interest expense: $10,000 Interest income: $15,000 Gross Profit: $200,000 Selling and administrative expenses: $75,000 Income tax expense: $12,000 What is Knight Company's cost of goods sold for year 1? $188,000 $220,000 $300,000 $155,000 $430,000

Apopular low-cost airline, parson corp., has gone out of business. although the service and price provided by the airline was what customers wanted, the larger airlines were able to drive the low-cost airline out of business through an aggressive price war. which component of the competitive environment does this illustrate? a) threat of new entrants b)competitors c) economic factors d) customers d) regulators

An electronics store is running a promotion where for every video game purchased, the customer receives a coupon upon checkout to purchase a second game at a 50% discount. the coupons expire in one year. the store normally recognized a gross profit margin of 40% of the selling price on video games. how would the store account for a purchase using the discount coupon?

During the holiday season, maria's department store works with a contracted employment agency to bring extra workers on board to handle overflow business, and extra duties such as wrapping presents. maria's is using during these rush times.