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donnamorgan32
17.10.2020 •
Business
Pandora Corporation operates several factories in the Midwest that manufacture consumer electronics. The December 31, 2021, year-end trial balance contained the following income statement items:.
Account Title Debits Credits
Sales revenue $ 14,200,000
Interest revenue 67,000
Loss on sale of investments $ 117,000
Cost of goods sold 6,370,000
Selling expenses 637,000
General and administrative expenses 1,690,000
Interest expense 57,000
Research and development expense 1,370,000
Income tax expense 917,000
Required:Calculate the company's operating income for the year.
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Ответ:
Pandora Corporation
Income Statement for the year ended December 31, 2021
Sales revenue $ 14,200,000
Less Cost of goods sold ($6,370,000)
Gross Profit $7,830,000
Less Operating Expenses :
Selling expenses ($637,000 )
General and administrative expenses ($1,690,000 )
Research and development expense ($1,370,000)
Operating Net Income/(loss) $4,133,000
Explanation:
Operating Income is the profit that a firm derives from its Primary operating activities.
This excludes incomes and losses generated from other Secondary sources.
For this question the Secondary sources excluded are : Interest revenue, Loss on sale of investments, Interest expense and Income tax expense.
Ответ:
*2, *3, *4, *5, *6, *7...etc.
So the next two terms would be 720 and 5,040