The followIng Information Is avallable from the accounting records of Manahan Co. for the year ended December 31, 2019: Net cash provided by financing activities Dividends paid Loss from discontinued operations, net of tax savings of $45,167 Income tax expense other selling expenses $119,000 18,000 135,500 24,590 14,600 640,600 46,800 58, 000 365,142 143,800 Net sales Advertising expense Accounts receivable cost of goods sold General and administrative expenses Required: a. Calculate the operating Income for Manahan Co. for the year ended December 31, 2019. MANAHAN CO. Operating Income Statement For the year ended December 31, 2019 Expenses: b. Calculate the company's net Income for 2019.
The followIng Information Is avallable from the accounting records of Manahan Co. for the year ended December 31, 2019: Net cash provided by financing activities Dividends paid Loss from discontinued operations, net of tax savings of $45,167 Income tax expense other selling expenses $119,000 18,000 135,500 24,590 14,600 640,600 46,800 58, 000 365,142 143,800 Net sales Advertising expense Accounts receivable cost of goods sold General and administrative expenses Required: a. Calculate the operating Income for Manahan Co. for the year ended December 31, 2019. MANAHAN CO. Operating Income Statement For the year ended December 31, 2019 Expenses: b. Calculate the company's net Income for 2019.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:The following Information Is avallable from the accounting records of Manahan Co. for the year ended December 31, 2019:
Net cash provided by financing activities
Dividends paid
Loss from discontinued operations, net of tax savings of $45,167
Income tax expense
Other selling expenses
Net sales
Advertising expense
Accounts receivable
Cost of goods sold
General and administrative expenses
$119,000
18,000
135,500
24,590
14,600
640,600
46,800
58,000
365,142
143, 800
Requlred:
a. Calculate the operating Income for Manahan Co. for the year ended December 31, 2019.
MANAHAN CO.
Operating Income Statement
For the year ended December 31, 2019
Expenses:
b. Calculate the company's net Income for 2019.
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