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Selling, general, and administrative expenses were $56,000; net sales were $254,600; interest expense was $6,000; research and development expenses were $26,600; net cash provided by
Selling, general, and administrative expenses were $56,000; net sales were $254,600; interest expense was $6,000; research and development expenses were $26,600; net cash provided by operating activities was $66,900; income tax expense was $6,400; cost of goods sold was $138,900. Required: a. Calculate operating income for the period.
b. Calculate net income for the period.
Operating expenses: Interest expense Income tax expense
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