A company reports sales of $200,000, cost of goods sold of $120,000, and operating expenses of $30,000. What is the operating income?

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...
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A company reports sales of $200,000, cost of
goods sold of $120,000, and operating
expenses of $30,000. What is the operating
income?
Transcribed Image Text:A company reports sales of $200,000, cost of goods sold of $120,000, and operating expenses of $30,000. What is the operating income?
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