Reference no: EM133075424
Question - The following information has been provided by SteelCorp for the year ended December 31, 2019:
Net income was $102,000
Income tax expense was $57,000
Dividends declared and paid totaled $8,500
Interest expense was $7,400
Loss on sale of plant assets was $12,000
Operating expenses for rent, wages, and insurance totaled $87,000
Cash collected from customers was $165,000
Required - Calculate SteelCorp's operating income (EBIT).
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