Question 11 Financial information is presented below: Operating expenses $ 33000 Sales returns and allowances 5000 Sales discounts 3000 Sales revenue 156000 Cost of goods sold 110000 Gross profit would be $43000. $41000. $38000. $46000.

$38,000

Explanation:

in order to determine gross profit we must prepare the following:

total revenue                    $156,000

-cost of goods sold         ($110,000)

-sales discounts                ($3,000)

-sales returns & allow.      ($5,000)

gross profit                       $38,000

operating expenses ($33,000) are not included in the calculation of gross profit

d, conspicuous consumption is when you try to increase your wealth or social status (and in the case he's trying to create the perception of wealth considering he can't really afford it)

answer the amount a seller is paid minus the cost of production;