Canine Couture is a specialty dog clothing boutique that sells clothing and clothing accessories for dogs. In 2019, they had gross revenue from sales totaling $180,351. Their operating expenses for this same period were $35,801. If their Cost of Goods Sold (COGS) was 24% of gross revenue, what was their net operating income for the year? Round to the nearest whole dollar, no decimal places.

Canine Couture is a specialty dog clothing boutique that sells clothing and clothing accessories for dogs. In 2019, they had gross revenue from sales totaling $180,351. Their operating expenses for this same period were $35,801. If their Cost of Goods Sold (COGS) was 24% of gross revenue, what was their net operating income for the year? Round to the nearest whole dollar, no decimal places.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 2EA: Park and West, LLC, provides consulting services to retail merchandisers in the Midwest. In 2019,...

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