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Question - Selling, general, and administrative expenses were $165,000; net sales were $750,000; interest expense was $18,000; research and development expenses were $78,750; net cash provided by operating activities was $199,100; income tax expense was $16,800; cost of goods sold was $412,500.
Required:
a. Calculate operating income for the period.
b. Calculate net income for the period.
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