Question 81: The following information was reported on theincome statement of
Cannondale in one of its early years of operation. Sales revenues,$450,000;
Cost of goods sold, $200,000; Selling, general, and administrative,$150,000;
Interest expense, $30,000. Cannondale’s gross profit and operatingincome
would be: Gross profit Operating income
A. $250,000 $70,000
B. $250,000 $100,000
C. $100,000 $70,000
D. $300,000 $70,000