Question - Jonas Company has the following amount balances at the end of its fiscal year. Compute Net Salas, Gross Profit, and Net Income (ignore taxes).
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Sales
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$125,400
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Sales Return and Allowances
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3,500
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Sales Discounts
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4,000
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Net Sales
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|
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Cost of Goods Sold
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58,400
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Gross Profit
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|
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Selling Expenses
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11,700
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General and Administrative Expenses
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12,300
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Net Income
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