Please answer all the questions for this Problem 7d Accounts

Please answer all the questions for this

Problem 7d: Accounts Receivable and Uncollectible Accounts Expense For questions 1-7 he rimeau M er handising ompany current y se s pro ucts on y trou r ? its store in Lowe ne compan s es e e ncome state nen tors rations n une soes nted elowï Primeau Merchandising Company For the Month Ended June 30 Sales Cost of Goods Sold Gross Profit Operating Expenses Income Before Taxes Income Taxes Expense Net Income $400,000 220.000 $180,000 100.000 $80,000 $28.000 $52.000

Solution

Question 2- C - $16,200

Question 3.- B- $ 2,160

Question 4. - a -$8,640

Question 5. - e $7,560

Question 6. - b - 2,646

Question 7 - d- 4,914

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Sales	$        36,000
Less: Cost of Goods Sold(36000*55%)	$        19,800
Gross Profit	$        16,200
Operating Expenses(36000*18%+2160)	$          8,640
Income Before Tax	$          7,560
Income Tax(7560*35%)	$          2,646
Net Income	$          4,914