Question

Net cash provided by financing activities Dividends paid Loss from discontinued operations, net of tax savings of $44,533 Income tax expense Other selling expenses Net sales Advertising expense Accounts receivable Cost of goods sold General and administrative expenses $102,000 19,800 133,600 26,736 11,400 642,300 47,200 61,900 366, 111 141,200 Required: a. Calculate the operating income for Manahan Co. for the year ended December 31, 20 MANAHAN CO. Operating Income Statement For the year ended December 31, 2019 Expenses:

Answer 1

Required a) MANAHAN CO Operating Income statement For the year ended December 31 2019 Net sales $ 642,300 less cost of goods old $366,111 Gross profit $ 276,189 less Advertising expense less other selling expense less general and administrative expense operating income $ 47,200 $ 11,400 $ 141,200 $ 76,389 Required b) MANAHAN CO Income statement For the year ended December 31 2019 Income before taxes $ 76,389 less Income tax expense $ 26,736 Earnings before extra ordinary item = $ 49,653 less Loss from discontinued operation Net Loss $ $ 133,600 (83,947) Please comment if you have any doubt Please give thumps up if you are satisfied with the answer