The Nellie Company Has Provided the Following Information

question 51

Multiple Choice

The Nellie Company has provided the following information:
Operating expenses were $115,000;
Gross profit was $629,000;
Cost of goods sold was $470,000
Interest expense was $17,000;
Extraordinary loss was $29,000;
Income tax expense was $199,000.
What was Nellie's operating income?

• A)$514,000
• B)$54,000
• C)$497,000
• D)$298,000

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