The following information is available from the accounting records of Manahan Co. for the year ended December 31, 2019: Net cash provided by financing activities Dividends paid Loss from discontinued operations, net of tax savings of $45,400 $116,000 19,800 136,200 Income tax expense Other selling expenses Net sales Advertising expense Accounts receivable Cost of goods sold General and administrative expenses 26,864 11,500 647,100 47,400 60,700 368,847 142,600 Required: a. Calculate the operating income for Manahan Co. for the year ended December 31, 2019. MANAHAN CO. Operating Income Statement For the year ended December 31, 2019 Expenses:

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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b. Calculate the company's net income for 2019.
Transcribed Image Text:b. Calculate the company's net income for 2019.
The following information is available from the accounting records of Manahan Co. for the year ended December 31, 2019:
Net cash provided by financing activities
Dividends paid
Loss from discontinued operations, net of tax savings of $45,400
Income tax expense
Other selling expenses
$116,000
19,800
136, 200
26,864
11,500
647,100
47,400
Net sales
Advertising expense
Accounts receivable
Cost of goods sold
General and administrative expenses
60,700
368,847
142,600
Required:
a. Calculate the operating income for Manahan Co. for the year ended December 31, 2019.
MANAHAN CO.
Operating Income Statement
For the year ended December 31, 2019
Expenses:
Transcribed Image Text:The following information is available from the accounting records of Manahan Co. for the year ended December 31, 2019: Net cash provided by financing activities Dividends paid Loss from discontinued operations, net of tax savings of $45,400 Income tax expense Other selling expenses $116,000 19,800 136, 200 26,864 11,500 647,100 47,400 Net sales Advertising expense Accounts receivable Cost of goods sold General and administrative expenses 60,700 368,847 142,600 Required: a. Calculate the operating income for Manahan Co. for the year ended December 31, 2019. MANAHAN CO. Operating Income Statement For the year ended December 31, 2019 Expenses:
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