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

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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