At Nash's annual management meeting, the following accounts and amounts were shared in the presentation. However, these account

titles did not match the terms loosely discussed in the meeting.

Donald was the only new employee there and is unsure of what all these terms mean. As part of the accounting staff, your task is to

help him begin to understand the basics of costs and expenses.

Your answer is correct.

Help Donald interpret the below list of cost accounts by categorizing each as an expense or an asset, and calculate Nash's totals

for the year.

$($b$)$

If total revenues are $$1,196,000,$ show Donald how much operating income the company earned this year.