Question: Use the appropriate information from the data provided below to calculate operating income for the year ended December 31, 2015. Research and development $85,000 Loss
Use the appropriate information from the data provided below to calculate operating income for the year ended December 31, 2015. Research and development $85,000 Loss from discontinued operations 35,000 Provision from income taxes 69,000 Net sales 1,025,000 Interest expense 75,000 Net cash provided by operations 78,000 Gross profit 295,000 Selling, general and administrative expenses 65,000 Account receivable 136,000 Extraordinary gain from lawsuit settlement, 89,000 (net of tax expense)
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