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12 July, 16:58

Mel operates a video game store. His records indicate that he had sales of $78,000. Customers returned $1,500 worth of video games because of various defects. His cost of goods sold was $19,000. What is Mel's Schedule C gross income? A. $78,000B. $76,500C. $59,000D. $57,500

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  1. 12 July, 20:54
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    D. $57,500

    Explanation:

    Gross income = sales - (goods returned + cost of goods sold) = $78,000 - ($1,500 + $19,000) = $78,000 - $20,500 = $57,500
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Home » Business » Mel operates a video game store. His records indicate that he had sales of $78,000. Customers returned $1,500 worth of video games because of various defects. His cost of goods sold was $19,000. What is Mel's Schedule C gross income? A. $78,000B.
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