What amount would ABC Co reports as income

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Problem - ABC Co. had the following account balances:

Sales revenue $250,000

Gross profit 40% of Net sales

Operating expenses 55,000

Rent revenue 12,000

Interest expense 10,000

Loss on sales of building 5,000

Sales discount 16,500

Sales Return and allowances 5,500

Required - What amount would ABC Co. reports as income from operations in its income statement?

Reference no: EM132796468

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