Answer the following questions using the information below:
$\begin{array}{lr}
\text { Beginuing finished goods, 1/1/2015 } & \$ 92,000 \
\text { Ending finished goods, 12/31/2015 } & 75,000 \
\text { Cost of goods sold } & 300,000 \
\text { Sales revenue } & 450,000 \
\text { Operating expenses } & 95,000
\end{array}$
-What is the operating income for 2015?
A) $75,000
B) $55,000
C) $62,000
D) $68,000

Question

Answer the following questions using the information below:
 $\begin{array}{lr}
\text { Beginuing finished goods, 1/1/2015 } & \$ 92,000 \
\text { Ending finished goods, 12/31/2015 } & 75,000 \
\text { Cost of goods sold } & 300,000 \
\text { Sales revenue } & 450,000 \
\text { Operating expenses } & 95,000
\end{array}$
-What is the operating income for 2015?
A) $75,000
B) $55,000
C) $62,000
D) $68,000

Quizplus · Accepted Answer

Operating income is calculated as Sales Revenue minus Cost of Goods Sold and Operating Expenses. Therefore, $450,000 - $300,000 - $95,000 = $55,000.

Answer the Following Questions Using the Information Below -What Is the Operating Income for 2015? A) $75,000 B)

Answer the Following Questions Using the Information Below -What Is the Operating Income for 2015?
A) $75,000
B)