Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Nellie Company has provided the following information: Operating expenses were $131,000; Gross profit was $670,000; Cost of goods sold was $470,000; Interest expense was

The Nellie Company has provided the following information:

Operating expenses were $131,000;

Gross profit was $670,000;

Cost of goods sold was $470,000;

Interest expense was $17,000;

Income tax expense was $198,000.

What was Nellie's operating income?

A. $539,000

B. $79,000

C. $522,000

D. $324,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Controlling Fur Kleine Und Mittlere Unternehmen

Authors: David Muller

2nd Edition

3110514877, 9783110514872

More Books

Students also viewed these Accounting questions

Question

Eliminate street slang.

Answered: 1 week ago