Homework answers / question archive / The following relate to Farr Corporation for the month of April : Sales Revenue $140,000Gain on the Sale of Land $20,000Cost of Goods Sold $75,000Tax Expense $14,000Advertising Expense $10,000Dividends Paid $7,000Loss on Lawsuit $24,000a

The following relate to Farr Corporation for the month of April : Sales Revenue $140,000Gain on the Sale of Land $20,000Cost of Goods Sold $75,000Tax Expense $14,000Advertising Expense $10,000Dividends Paid $7,000Loss on Lawsuit $24,000a

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The following relate to Farr Corporation for the month of April : Sales Revenue $140,000Gain on the Sale of Land $20,000Cost of Goods Sold $75,000Tax Expense $14,000Advertising Expense $10,000Dividends Paid $7,000Loss on Lawsuit $24,000a. Determine Farr’s gross profit for the month of April.b. Determine Farr’s net income for the month of April.c. If retained earnings at the beginning of April were $1,500,000, whatwould retained earnings be at the end of April?