Pandora Corporation operates several factories in the Midwest that manufacture consumer electronics. The December 31, 2021, year-end trial balance contained the following income statement items: Account Title Debits CreditsSales revenue $ 12,500,000Interest revenue 50,000Loss on sale of investments $ 100,000Cost of goods sold 6,200,000Selling expense 620,000General and administrative expense 1,520,000Interest expense 40,000Research and development expense 1,200,000Income tax expense 900,000 Required:Calculate the company’s operating income for the year.
Pandora Corporation operates several factories in the Midwest that manufacture consumer electronics. The December 31, 2021, year-end
Account Title Debits Credits
Sales revenue $ 12,500,000
Interest revenue 50,000
Loss on sale of investments $ 100,000
Cost of goods sold 6,200,000
Selling expense 620,000
General and administrative expense 1,520,000
Interest expense 40,000
Research and development expense 1,200,000
Income tax expense 900,000
Required:
Calculate the company’s operating income for the year.
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