Question 12
What is Jebco's operating income? Use the information from Data Set 2 for Jebco Industries.
Data Set 2 Selected IS and BS accounts for Jebco Industries
Tax Rate					20%
Sales					760,000.00
Marketable Securities					30,000.00
Depreciation Expense					60,000.00
Cash					4,500.00
Total Fixed Assets (i.e. Net Property Plant and Equipment)					300,000.00
Interest Expense					14,000.00
Retained Earnings					159,700.00
Other Current Liabilities					2,800.00
Accounts Receivable					34,000.00
Cost of Goods sold					430,000.00
Common Stock and Paid-in-Capital					55,000.00
Selling, General, and Administrative Expense					186,000.00
Long-term Debt					250,000.00
Long-term debt due for repayment					23,000.00
Accounts Payable					92,000.00
Inventory					214,000.00
a. $84,000
b. $90,000
c. $56,000
d. $144,000