The Callie Company has provided the following information: Operating expenses were $239,000; Cost of goods sold was $328,000; Net sales were $890,000; Interest expense was $42,000; Gain on sale of a building was $79,000; Income tax expense was $108,000. What was Callie's income from operations (operating income)? Multiple Choice $192,000. О $402,000. $271,000. О $234,000.

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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The Callie Company has provided the following information:
Operating expenses were $239,000;
Cost of goods sold was $328,000;
Net sales were $890,000;
Interest expense was $42,000;
Gain on sale of a building was $79,000;
Income tax expense was $108,000.
What was Callie's income from operations (operating income)?
Multiple Choice
$192,000.
О
$402,000.
$271,000.
О
$234,000.
Transcribed Image Text:The Callie Company has provided the following information: Operating expenses were $239,000; Cost of goods sold was $328,000; Net sales were $890,000; Interest expense was $42,000; Gain on sale of a building was $79,000; Income tax expense was $108,000. What was Callie's income from operations (operating income)? Multiple Choice $192,000. О $402,000. $271,000. О $234,000.
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