Reference no: EM132932079
The following information is available from the accounting records of Manahan Co. for the year ended December 31, 2019:
Net cash provided by financing activities$101,000
Dividends paid 19,400
Loss from discontinued operations, net of tax savings of $39,633
118,900
Income tax expense 25,846
Other selling expenses 13,300
Net sales 642,200
Advertising expense 45,700
Accounts receivable 58,300
Cost of goods sold 366,054
General and administrative expenses 143,300
Required:
Problem a. Calculate the operating income for Manahan Co. for the year ended December 31, 2019.
Problem b. Calculate the company's net income for 2019.
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