If the cost of goods sold was $42,000 the income from sales was $86,000 and the expenses were $12,000 find gross profit and net profit

Gross profit is $44,000 and Net profit is $32,000

Step-by-step explanation:

Given :

Gross profit :

Gross Profit = Total income - Cost of goods sold

⇒ $86,000 - $42,000

⇒ $44,000

⇒ Gross profit is $44,000

Net profit :

Net profit = Gross profit – Total Expenses

⇒ $44,000 - $12,000

⇒ $32,000

⇒ Net profit is $32,000

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step-by-step explanation: