A small manufacturing company with a gross income of $360,000 has the following expenses:M&O $76,000, insurance $7000, labor $110,000, utilities $29,000. If debt service is $37,000 and taxes are $9000, the net operating income is closestto:a. $92,000b. $101,000c. $138,000d. $174,000

A small manufacturing company with a gross income of $360,000 has the following expenses:M&O $76,000, insurance $7000, labor $110,000, utilities $29,000. If debt service is $37,000 and taxes are $9000, the net operating income is closestto:a. $92,000b. $101,000c. $138,000d. $174,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...

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Question

A small manufacturing company with a gross income of $360,000 has the following expenses:
M&O $76,000, insurance $7000, labor $110,000, utilities $29,000. If debt service is $37,000 and taxes are $9000, the net operating income is closest
to:
a. $92,000
b. $101,000
c. $138,000
d. $174,000

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