Concord Corporation had the following information at December 31: Finished goods inventory, January 1 $70000 Finished goods inventory, December 31 26000 If the cost of goods manufactured during the year amounted to $1895000 and annual sales were $2994000, how much is the amount of gross profit for the year?

Gross profit= $1,055,000

Explanation:

Giving the following information:

Finished goods inventory, January 1 $70,000

Finished goods inventory, December 31 $26,000

Cost of goods manufactured= $1,895,000

Sales= $2,994,000

First, we need to calculate the cost of goods sold:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 70,000 + 1,895,000 - 26,000

COGS= $1,939,000

Now, the gross profit:

Gross profit= sales - cogs

Gross profit= 2,994,000 - 1,939,000

Gross profit= $1,055,000

statement of owner"s equity;

the correct answer would be b, when, queen, calder hall and london.

explanation:

we always capitalize words when a paragraph or sentence is starting, when an important name is used, when a place is being written, or simply when a noun is used, etc. so in this sentence, sentence is starting from 'when', so it will be written in capital letters. secondly, queen is considered to be an important person, so it will also be written in capital letter. next, the name of the town is mentioned, i-e calder hall, which will also be written in capital letters. in the last,   city name is being used, 'london', which will also be written in capital letters. so option b is the most appropriate one.