81) Mason Cabinet Company sells standard kitchen cabinets. The following information summarizes Mason's operating activities for the year:

Selling and Administrative Expenses	$42,750
Purchases	85,700
Sales Revenue	154,500
Merchandise Inventory, January 1	12,500
Merchandise Inventory, December 31	16,200

Mason sold 950 cabinets during the year.

Calculate the operating income for the year.

Compute the unit cost for one cabinet (Round to two decimal places.)

Answer: Operating income for the year

Mason Cabinet Company

Income Statement

Year Ended December 31, 2015

Sales Revenue		________
Cost of Goods Sold:
Beginning Merchandise Inventory	________
Purchases	________
Cost of Goods Available for Sale	_______
Ending Merchandise Inventory	(______)
Cost of Goods Sold		________
Gross Profit		________

Selling and Administrative Expenses		________
Operating Income		___________

HINT: Unit cost for one cabinet = Cost of goods gold / Total units sold