Li Retailing Reported the Following Items for the Current Year

question 52

Multiple Choice

Li Retailing reported the following items for the current year: Sales = $3,000,000; Cost of Goods Sold = $1,500,000; Depreciation Expense = $170,000; Administrative Expenses = $150,000; Interest Expense = $30,000; Marketing Expenses = $80,000; and Taxes = $300,000.Li's operating income is equal to

• A) $770,000.
• B) $1,070,000.
• C) $1,100,000.
• D) $1,500,000.

---

Definitions:

Detached

Emotional disengagement or maintaining an objective view without personal involvement or attachment.

Own Resources

Refers to the personal capabilities, assets, or strengths that an individual can draw upon when needed.

Great Need

Great Need refers to a critical requirement or an urgent desire that deeply influences actions and decision-making processes within individuals or societies.

Privacy

The right or state of being free from unwanted intrusion into one's personal affairs or spaces.