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galina1969 [7]
3 years ago
10

Porches, Inc. sells lawn furniture. Selected financial information for the most recent year is as​ follows:Beginning merchandise

inventory on January 1 was $33,200.Ending merchandise inventory on December 31 was $35,000.Purchases during the year were $92,000.Selling and administrative expenses were $75,700.Sales for year were $262,900.What was operating income for the​ year?
Business
1 answer:
Hatshy [7]3 years ago
6 0

Answer:

The operating income for the​ year is $97,000

Explanation:

For computing the operating income, first, we have to calculate the cost of goods sold. The formula to compute the cost of good sold is shown below:

= Beginning merchandise inventory + Purchases during the year - Ending merchandise inventory

= $33,200 + $92,000 - $35,000

= $90,200

Now, the operating income would be

= Sales - the cost of good sold - selling and administrative expenses

= $262,900 - $90,200 - $75,700

= $97,000

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Answer:

b. 116

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3 years ago
In order to make sure it is possible to clean the floors under shelving units in food establishments, the shelves must be at lea
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The shelves must be at least 15 centimeters or 6 inches above the floor.

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6 0
3 years ago
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Fess Hardware Store had net credit sales of $8,500,000 and cost of goods sold of $5,000,000 for the year. The Accounts Receivabl
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5 0
3 years ago
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1 year ago
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