Which of the following expressions is incorrect?
a. Gross profit – operating expenses = operating income
b. Sales – cost of goods sold – operating expenses = operating income c. Operating income + operating expenses = gross profit
d. Operating expenses – cost of goods sold = gross profit
a. Gross profit – operating expenses = operating income
b. Sales – cost of goods sold – operating expenses = operating income c. Operating income + operating expenses = gross profit
d. Operating expenses – cost of goods sold = gross profit