Answered: A company reports sales of $200,000,…

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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Question

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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