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Use the appropriate information from the data provided below to calculate operating income for the year ended December 31,2011. Research & Development expenses $86,000 Loss
Use the appropriate information from the data provided below to calculate operating income for the year ended December 31,2011. Research & Development expenses $86,000 Loss from discounted operations $34,000 Provision from income taxes $68,000 Net Sales $1,022,000 Interest expense $72,000 Net cash provoded by operations $76,000 Gross profit $292,000 Selling, general & administrative expenses $62,000 Accounts recievable $134,000 Extraordinary gain from lawsuit settlement, net of tax expense of $26,000 - $90,000
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