a-company-has-net-sales-of-800000-cogs-of-500000-operating-expenses-of-150000-no

Question

A company has net sales of $800,000, COGS of $500,000, operating expenses of $150,000, non-operating revenues of $20,000, non-operating expenses of $10,000, and income tax expense of $30,000. Calculate the net income using the multi-step income statement format.

Accepted Answer

$130,000

Answer

$150,000

Answer

$120,000

Answer

$140,000

A company has net sales of \$800,000, COGS of \$500,000, operating expenses of \$150,000, non-operating revenues of \$20,000, non-operating expenses of \$10,000, and income tax expense of \$30,000. Calculate the net income using the multi-step income statement format.