Reference no: EM132630729
Question - ABC Company provided the following information for the most recent year:
Cash sales totaled $255,000
Credit sales totaled $479,000
Cash collections from customers for services yet to be provided totaled $88,000
Cost of Goods Sold was $336,000
A $22,000 loss from the sale of property and equipment occurred
Interest income was $7,700
Interest expense was $19,900
Rent expense was $36,000
Salaries expense was $49,000
Other operating expenses totaled $79,000
Unearned revenue was $4,000
Required - How much was ABC Company's operating income for the year?
A. $221,800
B. $322,000
C. $199,800
D. $234,000
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