iPad 1100 PM 25D eztomheducationcom Selling general and adm

iPad? 11:00 PM * 25%D+ ezto.mheducation.com Selling, general, and administrative expenses were $173,800; net sales were $790,000; interest expense was $19,000; research and development expenses were $82,950; net cash provided by operating activities was $209,700; income tax expense was $17,680; cost of goods sold was $434,500. Required a. Calculate operating income for the period. Operating expenses: b. Calculate net income for the period. Interest expense Income tax expense

Solution

a) Calculation of Operating Income for the period (Amounts in $)

b) Calculation of net income for the period (Amounts in $)

Net Sales	790,000
Less: Cost of goods sold	(434,500)
Gross Profit	355,500
Operating Expenses:
Selling and Administrative expenses	(173,800)
Research and Development expenses	(82,950)
Operating Income	98,750