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Calculate income from operations and net income Selected information taken from the financial statements of Verbeke Co. for the year ended December 31, 2010, follows:
Gross profit
$412,000
General and administrative expenses.
83,000
Net cash used by investing activities
106,000
Dividends paid.
51,000
Extraordinary loss from an earthquake, net of tax savings of $25,000
61,000
Net sales
741,000
Advertising expense
76,000
Accounts payable
101,000
Income tax expense
Other selling expenses.
42,000
a. Calculate income from operations (operating income) for the year ended December 31, 2010.
b. Calculate net income for the year ended December 31, 2010.
1.determine the year-to-year percentage annual growth in total net sales.2.based only on your answers to question 1 do
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