Question
Lucy INC. has the following information on its accounting records: gross profits $175,000; interest expense $25,000; selling, general and administration expenses $70,000; tax expense $12,000;
Lucy INC. has the following information on its accounting records: gross profits $175,000; interest expense $25,000; selling, general and administration expenses $70,000; tax expense $12,000; and Sales $325,000. What is operating income?
| $150,000 | ||
| $80,000 | ||
| $45,000 | ||
| $33,000 | ||
| $105,000 |
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Financial Accounting Reporting And Analysis
Authors: Michael Diamond, James Stice, Earl K. Stice, James D. Stice
5th Edition
0538873019, 978-0538873017
