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A financial analyst at SPJ Manufacturing Corporation has assembled the following data for the last fiscal year. All data is in millions (M). Gross sales $10M Returns and allowances $1M Cost of goods sold
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A financial analyst at SPJ Manufacturing Corporation has assembled the following data for the last fiscal year. All data is in millions (M).

Gross sales $10M
Returns and allowances $1M
Cost of goods sold $3M
Operating expenses $2M
Interest expenses $0.5M
Taxes $0.1M
Cash dividends $0.4M
Common stock $1M

What is the net income or loss for the SPJ Manufacturing Corporation for the last fiscal year?

A. Net loss of $3M
B. Net income of $4M
C. Net loss of $4M
D. Net income of $3M

User SparkAndShine
by
4.9k points

1 Answer

4 votes

B. Net income of $4M

User Jason Ye
by
5.7k points
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