The operating Income at December 2018 was:Equal or below 9,000Between 9,000 and 18,001Between 18,000 and 23,000Equal or above 23,000Not enough data provided to calculate it Additional Information:123Equipment that cost $10,000 was sold for a certain amount in cashNew equipment was purchased during the year for $4,000Dividends declared in 2018 totaled $4,500 Tournesol Inc.Income StatementYear Ended December 15, 2018SaleCost of goods soldRent ExpenseWages and Salaries ExpenseAmortization ExpenseResults of Sale of equipmentInterest ExpenseIncome Tax ExpenseProfitCashAccounts ReceivableInventoryPrepaid ExpensesTournesol Inc. comparative balance sheet at December 15, 2018EquipmentAccumulated Depreciation equipmentTotal AssetsAccount PayableWages and Salaries PayableIncome taxes payableDividends PayableLong-term Notes PayableCommon sharesRetained EarningsTotal Liabilities & Shareholders' Equity$$$2018$$$$$$$$7,0005,00010,000$2,400$34,000$ (12,000)$ 46,400$ 100,000$(52,000)$$$$$$$3,5006,8001,2001,0007,0009,00017,90046,400(6,000)(15,000)(4,000)1,000(1,600)(2,000)20,4002017$1,000$ 9,000$ 13,000$ 5,000$ 40,000$ (18,000)$ 50,000$ 5,000$5,5003,000$ 2,500$22,000$10,000$2,000$50,000

Operating income is the profit generated by the business day to day operations and non operating…

Answered: The operating Income at December 2018…

The operating Income at December 2018 was: Equal or below 9,000 Between 9,000 and 18,001 Between 18,000 and 23,000 Equal or above 23,000 Not enough data provided to calculate it

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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