Calculate income from operations for Jonas Company based on the following data: $$\begin{array} { | l | r | }
\hline \text { Sales } & \$ 764,000 \
\hline \text { Operating expenses } & 52,500 \
\hline \text { Cost of goods sold } & 538,000 \
\hline
\end{array}$$

Question

Calculate income from operations for Jonas Company based on the following data: $$\begin{array} { | l | r | } 
\hline \text { Sales } & \$ 764,000 \
\hline \text { Operating expenses } & 52,500 \
\hline \text { Cost of goods sold } & 538,000 \
\hline
\end{array}$$

Quizplus · Accepted Answer

Income from operations is calculated by subtracting both the cost of goods sold and operating expenses from sales. So, $764,000 (Sales) - $538,000 (Cost of goods sold) - $52,500 (Operating expenses) = $173,500.

Calculate Income from Operations for Jonas Company Based on the Following