Explore BrainMass

Financial Statement Analysis

1.The gross profit on the sale of a pair of shoes is 39%,if expenses are 25% of the selling price and the cost price is $17.95, what is the selling price and the gross profit in dollars?

2.If expenses are $175.00 and profit is $120.00 and the selling price in$495.00, what is the cost and what percentage is the profit and what percentage are expenses of the cost?

© BrainMass Inc. brainmass.com June 19, 2018, 10:28 am ad1c9bdddf

Solution Preview

Hi there,
<br>1. The selling price would be $25
<br>The gross profit in ...

Solution Summary

This question involves the fundamentals of accounting