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

Selected data for three companies are given below. All inventory amounts are ending balances and all amounts are in millions E: (Click the icon to view the data.) Using the above data, calculate operating income for each company. (Enter amounts in millions as provided to you in the problem statement, $X.) Begin by calculating the operating income for Company A. Company A x Data Table Gross Profit Selling and Administrative Expenses: Company A S $ Company C 21 Administrative Expenses 30 Cash $ 7 Company B 12 Wages Expense 45 Equipment 8 Accounts Receivable 16 Service Revenue Cash Net Sales Revenue Finished Goods Inventory Cost of Goods Sold 11 1 Net Sales Revenue 48 Total Selling and Administrative Expenses 2 Operating Income 15 Now calculate the operating income for Company B. Selling Expenses Equipment Work-in-Process Inventory 6 Cash 50 Rent Expense 45 Selling Expenses 20 Merchandise Inventory 7 Equipment Accounts Receivable Cost of Goods Sold 43 Company B Accounts Receivable 10 22 Expenses: 21 Cost of Goods Manufactured Administrative Expenses Raw Materials Inventory 3 4 Total Expenses Print Done Operating Income Finally, calculate the operating income for Company C. Company C
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