Question $(2)$

Given the following abbreviated annual operating statement from Allred, LLC$,$ what is the existing net operating income $($NOI$)?$

Rental income

Tenant reimbursements

Sale of outparcel $($net$)$

Total revenues

Less: operating expenses

Less: property taxes

Less: depreciation

Less: interest expense

Earnings before taxes

Less: income taxes

Net income

$$200,000$

$$215,000$

$$222,000$

$$250,000$