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Consider the following year-end information for Spitzer Corporation: Cost of goods sold $413,000 Sales revenue 870,000 Nonoperating expenses 12,000 Operating expenses 152,000 Income tax expense 85,000
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Consider the following year-end information for Spitzer Corporation:

Cost of goods sold $413,000
Sales revenue 870,000
Nonoperating expenses 12,000
Operating expenses 152,000
Income tax expense 85,000

What amount will Spitzer report for operating income?

User Graceanne
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1 Answer

2 votes

Answer:

The Operating Income is $305.000

Step-by-step explanation:

Income Statement

Total Net Sales $ 870.000

Cost of goods sold -$ 413.000

Operating Expenses -$ 152.000

Operating Income $ 305.000

Non-Operating Expenses -$ 12.000

Income Before Tax Expenses $ 293.000

Income Taxes -$ 85.000

Net Income $ 208.000

User Blandger
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