Question: Selected data for three companies are given below All inventory amounts are ending balances and all amounts are in millions (Click the icon to view

 Selected data for three companies are given below All inventory amounts

Selected data for three companies are given below All inventory amounts are ending balances and all amounts are in millions (Click the icon to view the data.) Using the above data, calculate operating income for each company Begin by calculating the operating income for Company A. Data Table Company A Company B Company O Company A S 10 25 61 Cash Sales Revenue Finished Goods Inventory Cost of Goods Sold Selling Expenses Equipment Work-in-Process Inventory Accounts Receivable Cost of Goods Manufactured Administrative Expenses Raw Materials Inventory $ 10 Wages Expense 45 Equipment $ 14 Administrative Expenses 7 Accounts Receivable 32 Service Revenue 10 Cash 60 Rent Expense 22 Cash 4 Sales Revenue 44 Selling Expenses 8Merchandise Inventory 12 Equipment Gross Profit Operating Expenses: 25 46 10 25 Accounts Receivable Total Operating Expenses 12 Cost of Goods Sold Operating Income 26

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