Question: Presented below are selected data from the accounting records for Miccos Gift Store for 2014. Net sales $ 190,000 Income taxes 30,000 Cost of sales

Presented below are selected data from the accounting records for Miccos Gift Store for 2014.

Net sales

$ 190,000

Income taxes

30,000

Cost of sales

80,000

Operating expenses

45,000

Dividends

12,000

Required:

  1. Calculate the net income or loss for 2014 with the formula .

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