Pure Zen Candles Inc. is a retailer of premium wax products. The following data was reported for the year: • Sales Revenue: $720,000 • . • . • Purchases (excluding Freight): $350,000 Freight In: $16,000 Selling & Administrative Expenses: $82,000 Beginning Inventory: $60,000 Ending Inventory: $50,000 What is the operating income for the year?

Pure Zen Candles Inc. is a retailer of premium wax products. The following data was reported for the year: • Sales Revenue: $720,000 • . • . • Purchases (excluding Freight): $350,000 Freight In: $16,000 Selling & Administrative Expenses: $82,000 Beginning Inventory: $60,000 Ending Inventory: $50,000 What is the operating income for the year?

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 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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