Question
Joseph Czerniakow is the owner of a fish market. The following information summarizes Josephs expenses for the year: Sales revenues $250,000 Cost of goods sold
Joseph Czerniakow is the owner of a fish market. The following information summarizes Josephs expenses for the year:
| Sales revenues | $250,000 |
| Cost of goods sold | $105,000 |
| Salaries \ Wages part-time employees | $ 96,000 |
| Rent and utilities | $ 24,000 |
What is operating income?
A. $125,000
B. $25,000
C. $95,000
D. $5,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
CIA Review Part 2 Internal Audit Practice For The New 3 Part Exam
Authors: Irvin N.Gleim
17th Edition
158194375X, 978-1581943757
