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denis-greek [22]
3 years ago
7

"Snoop Company sells collectibles. The following information summarizes Snoop Company's operating activities for the most recent

year: Merchandise inventory, beginning $12,000 Merchandise inventory, ending 6,000 Purchases 97,000 Operating expenses 6 2,000 Sales revenue 195,000"
What is the operating income for the​ year? (Round your answer to the nearest whole​ dollar.)

A.

$274,000

B.

$320,000

C.

$206,000

D.
Business
1 answer:
Mkey [24]3 years ago
4 0

Answer:

The answer is $30000

Explanation:

                                                                      $                                $

Sales                                                                                             195000

<u>Less cost of sales</u>

Opening stock                                          12000

<u>Add</u> purchases                                         <u> 97000</u>

                                                                   109000

<u>Less </u>closing stock                                      <u>6000</u>

                                                                                                       <u>103000</u>

Gross profit                                                                                     92000

<u>Less</u> operating expenses                                                              <u>62000</u>

Operating income                                                                           <u>30000</u>

The operating income is<u> $30000</u>

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Ok with the information provided lets set up the equations (we are going to separate the equations by regular order and especial order):

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