You own the Juno Corporation and your accounting department has given you the following information for the
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Question:
You own the Juno Corporation and your accounting department has given you the following information for the current year.
Account: Amount:
Depreciation Expense $10,000
Cost of Goods Sold 250,000
General and Administrative Expenses 200,000
Gain on Sale of Equipment 30,000
Interest Expense 2,500
Advertising Expense 25,000
Interest Income 6,000
Loss on Sale of Land 22,000
Sales 1,000,000
Income Tax Expense 110,565
Required
Calculate Juno Corporation's operating income. Round your answer to the nearest dollar.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: