Reference no: EM133016882

Question - 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 -

a. Calculate the operating income for Manahan Co. for the year ended December 31, 2019.

b. Calculate the company's net income for 2019.