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FortheQuarteEndedSeptemb :30th Sales Cost of Good: Sold 1.985.000 Gross
Margin 893.250 Selling and Administrative Expenses 1,091, 750 Shipping 99.250
Other 158.800 Salaries and Wage: 255.000 Advertising 15.000 Prep…
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Is this the calculation for Net income. When taking the both of these twobudgets and subtracting them, this would give us a gross margin of $1,091,750. The total sellingand administrative budget expenses are $747,050, and adding $4,270 in interest subtracted by the gross margin gives us a total net income of $340,430 If yes what about the Net operating income total? Where did we get the 344,700?
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