Use the Appropriate Information from the Data Provided Below to Calculate

question 27

Essay

Use the appropriate information from the data provided below to calculate operating income for the year ended December 31, 2014. $$\begin{array} { | l | r | } \hline \text { Cost of goods sold } & \$ 117,000 \\\hline \text { General and administrative expenses } & 48,000 \\\hline \text { Net cash provided by financing activities } & 69,000 \\\hline \text { Dividends paid } & 16,000 \\\hline \begin{array} { l } \text { Extraordinary loss from an flood, net of } \\\text { tax savings of } \$ 32,000\end{array} & 74,000 \\\hline \text { Income tax expense } & 11,000 \\\hline \text { Other selling expenses } & 26,000 \\\hline \text { Net sales } & 278,000 \\\hline \text { Advertising expense } & 39,000 \\\hline \text { Accounts payable } & 33,000 \\\hline\end{array}$$

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Definitions:

Long-term Memory

The phase of memory responsible for the storage of information over an extended period, potentially as long as a lifetime.

Retrograde Amnesia

Deficit in the ability to recall previously learned information or past events.

Catatonia

Group of disorganized behaviors that reflect an extreme lack of responsiveness to the outside world.

Schizophrenia

A long-term mental disorder involving a breakdown in the relation between thought, emotion, and behavior, leading to faulty perception, inappropriate actions and feelings, withdrawal from reality and personal relationships into fantasy and delusion, and a sense of mental fragmentation.