LeGrand Corporation reported the following amounts in its income statement: Sales revenue Advertising expense Interest expense Salaries expense Utilities expense Income tax expense Cost of goods sold What was LeGrand's operating income? 440,000 60.000 10,000 55,000 25,000 45.000 180,000

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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**Question 15**

LeGrand Corporation reported the following amounts in its income statement:

- **Sales revenue**: $440,000
- **Advertising expense**: $60,000
- **Interest expense**: $10,000
- **Salaries expense**: $55,000
- **Utilities expense**: $25,000
- **Income tax expense**: $45,000
- **Cost of goods sold**: $180,000

**Question**: What was LeGrand's operating income?
Transcribed Image Text:**Question 15** LeGrand Corporation reported the following amounts in its income statement: - **Sales revenue**: $440,000 - **Advertising expense**: $60,000 - **Interest expense**: $10,000 - **Salaries expense**: $55,000 - **Utilities expense**: $25,000 - **Income tax expense**: $45,000 - **Cost of goods sold**: $180,000 **Question**: What was LeGrand's operating income?
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