presented here are the components in fancy corps income statement. what is fancys sales revenue and…

presented here are the components in fancy corps income statement. what is fancys sales revenue and operating expenses?\nsales revenue:\ncost of goods sold: $175,000\ngross profit: $150,000\noperating expenses:\nnet income: $65,000\n\no sales revenue = $85,000; operating expenses = $325,000\no sales revenue = $325,000; operating expenses = $85,000\no sales revenue = $215,000; operating expenses = $25,000\no sales revenue = $25,000; operating expenses = $10,000

presented here are the components in fancy corps income statement. what is fancys sales revenue and operating expenses?\nsales revenue:\ncost of goods sold: $175,000\ngross profit: $150,000\noperating expenses:\nnet income: $65,000\n\no sales revenue = $85,000; operating expenses = $325,000\no sales revenue = $325,000; operating expenses = $85,000\no sales revenue = $215,000; operating expenses = $25,000\no sales revenue = $25,000; operating expenses = $10,000

Answer

Explanation:

Step1: Recall gross - profit formula

Gross Profit = Sales Revenue - Cost of Goods Sold. So, Sales Revenue = Gross Profit+Cost of Goods Sold.

Step2: Calculate sales revenue

Sales Revenue=$150000 + 175000=$325000$.

Step3: Recall net - income formula

Net Income = Gross Profit - Operating Expenses. So, Operating Expenses = Gross Profit - Net Income.

Step4: Calculate operating expenses

Operating Expenses=$150000 - 65000=$85000$.

Answer:

Sales Revenue = $325,000; Operating Expenses = $85,000