The following information relates to Nebula,Inc. $$\begin{array} { | l | r | }
\hline \text { Sales Revenue } & \$ 240,000 \
\hline \text { Cost of Goods Sold } & 160,000 \
\hline \text { Interest Revenue } & 10,000 \
\hline \text { Operating Expenses } & 40,000 \
\hline \text { Sales Discounts } & 20,000 \
\hline \text { Sales Returns and Allowances } & 7,000 \
\hline
\end{array}$$ Calculate the operating income.

Question

The following information relates to Nebula,Inc. $$\begin{array} { | l | r | } 
\hline \text { Sales Revenue } & \$ 240,000 \
\hline \text { Cost of Goods Sold } & 160,000 \
\hline \text { Interest Revenue } & 10,000 \
\hline \text { Operating Expenses } & 40,000 \
\hline \text { Sales Discounts } & 20,000 \
\hline \text { Sales Returns and Allowances } & 7,000 \
\hline
\end{array}$$ Calculate the operating income.

Quizplus · Accepted Answer

Operating income = Sales Revenue - Cost of Goods Sold - Operating Expenses - Sales Discounts - Sales Returns and Allowances + Interest Revenue= 240,000 - 160,000 - 40,000 - 20,000 - 7,000 + 10,000= 13,000

The Following Information Relates to Nebula,Inc Calculate the Operating Income