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Exercise 4-1 Operating versus nonoperating income [LO4-1] Pandora Corporation operates several factories in the Midwest that manufacture consumer electronics. The December 31, 2018, year-end trial
Exercise 4-1 Operating versus nonoperating income [LO4-1] Pandora Corporation operates several factories in the Midwest that manufacture consumer electronics. The December 31, 2018, year-end trial balance contained the following income statement items: Credits 13,900,000 Account Title Sales revenue Interest revenue Loss on sale of investments 114,000 Cost of goods sold Selling expenses General and administrative expenses Interest expense Research and development expense Income tax expense Debits 64,000 6,340,000 634,000 1,660,000 54,000 1,340,000 914,000 Required: Calculate the company's operating income for the year Total operating revenue Less operating expenses
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