ABC Manufacturing Company has the following data for the year: Sales Revenue: $500,000 Cost of Goods Sold: $300,000 Operating Expenses: $120,000 Interest Expense: $20,000 Tax Rate: 30% Calculate the company's operating income.

ABC Manufacturing Company has the following data for the year: Sales Revenue: $500,000 Cost of Goods Sold: $300,000 Operating Expenses: $120,000 Interest Expense: $20,000 Tax Rate: 30% Calculate the company's operating income.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 5EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...

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Question

Can you solve this general accounting question with accurate accounting calculations?

ABC Manufacturing Company has the following data for the year:
Sales Revenue: $500,000
Cost of Goods Sold: $300,000
Operating Expenses: $120,000
Interest Expense: $20,000
Tax Rate: 30%
Calculate the company's operating income.

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