1. Which of the following is not a statement you would expect to find in a corporate annual report?.

1. Which of the following is not a statement you would expect to find in a corporate annual report? a. Statement of financial position b. Statement of earnings c. Statement of stockholders' equity d. Statement of accounts receivable The following information was reported on the income statement of Wagon Wheel Company. Sales revenues $450,000 Cost of goods sold 200,000 Selling, general, and administrative expenses 150,000 Interest expense 30,000 Wagon Wheel's gross profit and operating income would be               Gross profit           Operating income a.               $300,000                   $70,000 b.               $250,000                   $70,000 c.               $250,000                   $100,000 d.               $100,000                   $70,000  

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