Selling, general, and administrative expenses were $65,000; net sales were $295,100; interest expense was $6,900;...
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Selling, general, and administrative expenses were $65,000; net sales were $295,100; interest expense was $6,900; research and development expenses were $30,200; net cash provided by operating activities was $75,900; income tax expense was $7,300; cost of goods sold was $158,700. Required: a. Calculate operating income for the period. Net sales $ 295,100 (158,700) 136,400 Cost of goods sold Gross profit Operating expenses Selling, general and administrative expenses Research and development expenses Operating income (65,000) (30,200) 34.800 $ b. Calculate net income for the period. b. Calculate net income for the period. Operating income $ 34,800 x Interest expense (6.900) Income before taxes 27.900 Income tax expense (7,300) ) Net income $ 20,600 X Red text indicates no response was expected in a cell or a formula-based calculation is incorrect: no points deducted
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