Gadget corp. Recently reported sales revenue of $775,000, gross profit of $350,000, and net income of $64,000 for its most recent fiscal year. What were the firm’s operating expenses for the year?.

Question

04-03-2022
Business

Answered

Explore IDNLearn.com's extensive Q&A database and find the answers you're looking for. Find the information you need quickly and easily with our reliable and thorough Q&A platform.

Gadget corp. Recently reported sales revenue of $775,000, gross profit of $350,000, and net income of $64,000 for its most recent fiscal year. What were the firm’s operating expenses for the year?.

Sagot :

We are happy to have you as part of our community. Keep asking, answering, and sharing your insights. Together, we can create a valuable knowledge resource. Thanks for visiting IDNLearn.com. We’re dedicated to providing clear answers, so visit us again for more helpful information.

What Is The Order Of Steps Through Which A Particle Of Gaseous Water (water Vapor) Would Travel As It Made One Complete Trip Through The Water Cycle?.

Simplify. − 2 (y − 2) −3(y-2)

What Are The First 10 Multiples Of 99?

What Is Being Critiqued In Richard Hamilton's Pop Art Collage Just What Is It That Makes Today's Home So Different, So Appealing?

What Was The Catholic Church's Response To The Protestant Reformation? They Held A Series Of Meetings To Clarify The Teachings Of The Catholic Church War Betwee

You Are The Project Manager Assigned To A Project To Upgrade An Old Bus Shelter. The Shelter Is located Along South Street Travelling Eastbound. South Street I

Opinion: Chadwick Baseman’s Black Panther Gives A Boost To Diversity In STEM. (Which 2 Of The Following Sentence From The Article Include Central Idea Of The Ar

Find The Rational Roots Of Polynomial 2x^3+3x^2-11x-6

A Student Concluded That 8x−12=4(12x−6) Has Infinitely Many Solutions. Which Statement Best Describes The Student’s Conclusion? Responses The Conclusion Is Inco

How Do You Manage Your Performance?

Anthougoidn Anthougoidn · Answer 1 · 2022-03-08T03:43:50-05:00

Gadget Corporation's operating expenses for the year are$286,000.

What are operating expenses?

Operating expenses are expenses that are not directly related to the goods and services that the firm offers. Instead, they are expenses that are incurred in running the business. They include administrative and selling expenses.

Operating expenses are usually deducted from gross profit before arriving at the net income.

Data and Calculations:

Sales revenue = $775,000

Gross profit = $350,000

Net income = $64,000

Operating expenses = $286,000 ($350,000 - $64,000)

Thus, the firm's operating expenses for the year are$286,000.

Learn more about operating expenses at https://brainly.com/question/14697297

Sagot :

What are operating expenses?

Data and Calculations:

Other Questions