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Use the appropriate information from the data provided below to calculate operating income for the year ended December 31, 2007. Be sure to label your answer clearly and show all work.
Research and development expenses......................................86,000Loss on discontinued operations ...............................................34,000Income tax provision.................................................................68,000Net Sales................................................................................1,022,000Interest Expense.......................................................................72,000Net cash provided by operations..................................................76,000Gross profit................................................................................292,000Selling and admin expenses.........................................................62,000Accounts receivable....................................................................134,000Extraordinary item net of tax........................................................90,000
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