Answer:
Net sales $ 229,234 $ 215,639
Cost of sales 141,048 131,376
Research and development expenses 11,581 10,045
Selling, general, and administrative expenses 15,261 14,194
Operating income 61,344 60,024
Other income, net 2,745 1,348
Provision for income taxes 15,738 15,685
Net income $ 48,351 $ 45,687
Step-by-step explanation:
a) Data and Calculations:
Net sales $ 229,234 $ 215,639
Cost of sales 141,048 131,376
Research and development expenses 11,581 10,045
Selling, general, and administrative expenses 15,261 14,194
Operating income ? ?
Other income, net ? 1,348
Provision for income taxes 15,738 ?
Net income $ 48,351 $ 45,687
Operating income = Net sales minus (Cost of sales + R&D expenses, + Selling, general, and administrative expenses)
Other income, net = Net income + Provision for income taxes - Operating income
Provision for income taxes = Operating income + Other income - Net income