Consider the following year-end information for Spitzer Corporation:

Cost of goods sold $413,000

Sales revenue 870,000

Nonoperating expenses 12,000

Operating expenses 152,000

Income tax expense 85,000

What amount will Spitzer report for operating income?

Question

Jade Mcdaniel

Business

12 February, 22:53

Consider the following year-end information for Spitzer Corporation:

Cost of goods sold $413,000

Sales revenue 870,000

Nonoperating expenses 12,000

Operating expenses 152,000

Income tax expense 85,000

What amount will Spitzer report for operating income?

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Answers (1)

Know the Answer?

Kailey Mcneil · Answer 1

The Operating Income is $305.000

Explanation:

Income Statement

Total Net Sales $ 870.000

Cost of goods sold - $ 413.000

Operating Expenses - $ 152.000

Operating Income $ 305.000

Non-Operating Expenses - $ 12.000

Income Before Tax Expenses $ 293.000

Income Taxes - $ 85.000

Net Income $ 208.000

Consider the following year-end information for Spitzer Corporation:Cost of goods sold $413,000Sales revenue 870,000Nonoperating expenses 12,000Operating expenses 152,000Income tax expense 85,000What amount will Spitzer report for operating income?

Consider the following year-end information for Spitzer Corporation:

Cost of goods sold $413,000

Sales revenue 870,000

Nonoperating expenses 12,000

Operating expenses 152,000

Income tax expense 85,000

What amount will Spitzer report for operating income?