Given the following information, how much was Double Vision Company\'s Cost of G
ID: 2735177 • Letter: G
Question
Given the following information, how much was Double Vision Company's Cost of Goods Sold in 2015?
Double Vision Company
2015
Net sales
$6,196,140
Cost of goods sold
?
Operating expenses
$1,209,100
Interest expense
$35,920
Pre-tax Income
$629,160
Income tax expense
$54,500
Net Income
$574,660
$4,987,040
$5,621,480
$4,321,960
$1,080,490
Double Vision Company
2015
Net sales
$6,196,140
Cost of goods sold
?
Operating expenses
$1,209,100
Interest expense
$35,920
Pre-tax Income
$629,160
Income tax expense
$54,500
Net Income
$574,660
Explanation / Answer
COST OF GOODS SOLD
= NET SALES - OPERATING EXPENSES
= $6196140 - $1209100
= $4987040
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