Multiple choice 1. What is the Income from operation A. 20,000 B. 55,000 C. 60,000 D. 190,000 2. What is the net income A. 60,000 B. 65,000 C. 55,000 D. 180,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Multiple choice 1. What is the Income from operation A. 20,000 B. 55,000 C. 60,000 D. 190,000 2. What is the net income A. 60,000 B. 65,000 C. 55,000 D. 180,000
Sales revenue
Cost of goods sold
Sales discounts
Sales returns and allowances
Operating expenses
P480,000
300,000
20,000
15,000
85,000
Interest revenue
5,000
Transcribed Image Text:Sales revenue Cost of goods sold Sales discounts Sales returns and allowances Operating expenses P480,000 300,000 20,000 15,000 85,000 Interest revenue 5,000
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