Orion Corporation reported the following account balances at the end of the year: ⚫ Total Revenue: $780,000 • • Operating Expenses: $250,000 . Cost of Goods Sold (COGS): $320,000 ⚫ Interest Expense: $30,000 ⚫ Income Tax Expense: $55,000 What is the net income for Orion Corporation? A. $125,000 B. $135,000 C. $145,000 D. $150,000

Orion Corporation reported the following account balances at the end of the year: ⚫ Total Revenue: $780,000 • • Operating Expenses: $250,000 . Cost of Goods Sold (COGS): $320,000 ⚫ Interest Expense: $30,000 ⚫ Income Tax Expense: $55,000 What is the net income for Orion Corporation? A. $125,000 B. $135,000 C. $145,000 D. $150,000

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 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...

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