A company reports the following information for June:
Sales revenue $ 104,000 Income tax expense $ 11,000
Operating expenses 22,000 Cost of goods sold 65,000
Deferred revenues 15,000 Nonoperating revenues 12,000
What is the company's gross profit for June?
A) $18,000.
B) $39,000.
C) $104,000.
D) $17,000.
Answer: B
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