Use this information for Train Corporation to answer the question that follow. The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Locomotive Corporate Division Division Total Cost of goods sold $45,300 $28,700 Direct operating expenses 26,600 21,200 Sales 95,400 67,600 Interest expense $2,500 General overhead 18,500 Income tax 4,300 The net income for Train Corporation is Oa. $15,900 Ob s89.000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Use this information for Train Corporation to answer the question that follow.
The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31:
Rails
Locomotive
Corporate
Division
Division
Total
Cost of goods sold
$45,300
$28,700
Direct operating expenses
26,600
21,200
Sales
95,400
67,600
Interest expense
$2,500
General overhead
18,500
Income tax
4,300
The net income for Train Corporation is
Oa. $15,900
Ob. $89,000
Oc. $41,200
Od. $72,600
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7:33 PM
CP
12/13/2020
Transcribed Image Text:Use this information for Train Corporation to answer the question that follow. The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Locomotive Corporate Division Division Total Cost of goods sold $45,300 $28,700 Direct operating expenses 26,600 21,200 Sales 95,400 67,600 Interest expense $2,500 General overhead 18,500 Income tax 4,300 The net income for Train Corporation is Oa. $15,900 Ob. $89,000 Oc. $41,200 Od. $72,600 Previous Next 7:33 PM CP 12/13/2020
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