The Following Financial Information Was Summarized from the Accounting Records

question 49

Multiple Choice

The following financial information was summarized from the accounting records of Globe Corporation for the current year ended December 31: $$\begin{array} { l r r r } & \begin{array} { r } \text { Northern } \\\text { Division }\end{array} & \begin{array} { r } \text { Southern } \\\text { Division }\end{array} & \begin{array} { r } \text { Corporate } \\\text { Total }\end{array} \\\text { Cost of goods sold } & \$ 310,000 & \$ 175,000 & \\\text { Direct operating expenses } & 250,000 & 115,000 & \\\text { Net sales } & 600,000 & 410,000 & \\\text { Interest expense } & & & \$ 12,000 \\\text { General overhead } && & 101,000 \\\text { Income tax } & && 26,700\end{array}$$ ? The operating income for the Southern Division is:

• A) $150,000.
• B) $120,000.
• C) $295,000.
• D) $154,400.

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Definitions:

Middle-Class Progressives

Individuals from the middle economic tier of society who advocate for social reforms and progressive policies to address issues like poverty, education, and healthcare.

Working-Class Progressives

Individuals from the working class who advocate for reforms and policies intended to improve workers' rights and reduce economic inequalities.

Progressive Themes

refer to forward-thinking ideas and reforms aimed at addressing issues of equality, social justice, and improving societal conditions.

Regulatory Legislation

Laws enacted to control, direct, or manage activities, businesses, or industries, often for the purposes of protection, safety, or fairness.