Jackson Inspiration, Inc. is a merchandiser of stone ornaments. The company sold 9,300 units during the year. The company has provided the following information: Sales Revenue Purchases (excluding Freight In) $593,000 294,000 Selling and Administrative Expenses 45,000 Freight In Beginning Merchandise Inventory Ending Merchandise Inventory 14,000 32,000 31,000 What is the operating income for the year? (Round the answer to the nearest whole dollar.)

Jackson Inspiration, Inc. is a merchandiser of stone ornaments. The company sold 9,300 units during the year. The company has provided the following information: Sales Revenue Purchases (excluding Freight In) $593,000 294,000 Selling and Administrative Expenses 45,000 Freight In Beginning Merchandise Inventory Ending Merchandise Inventory 14,000 32,000 31,000 What is the operating income for the year? (Round the answer to the nearest whole dollar.)

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 3RE: Shaquille Corporation began the current year with inventory of 50,000. During the year, its...

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