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Selling, general, and administrative expenses were $138,600; net sales were $630,000; interest expense was $15,100; research and development expenses were $66,150; net cash provided by
Selling, general, and administrative expenses were $138,600; net sales were $630,000; interest expense was $15,100; research and development expenses were $66,150; net cash provided by operating activities was $167,300; income tax expense was $14,120; cost of goods sold was $346,500.
Required:
a. Calculate operating income for the period.
b. Calculate net income for the period.
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