The Willie Company has provided the following information Op

The Willie Company has provided the following information:

Operating expenses were $345,000;
Income from operations was $415,000;
Net sales were $1,100,000;
Interest expense was $71,000;
Loss from sale of investments was $87,000;
Income tax expense was $58,000.

What was Willie\'s net income?

$373,000.

$328,000.

$199,000.

($156,000).

Solution

Income from operations 415000 Interest expense -71000 Loss from sale of investments -87000 Income tax expense -58000 Net income 199000 Option 3 is correct