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Problem: Calculate operating income and net income.
The following informati is available from the accounting records of Manahan co. for the year ended December 31, 2013 rs 112,000 Net cash provided by financing activities Dividends paid loss from food, 18,000 Income tax expense net of tax savings of$35,000 105,000 26,000 other selling expenses 13,000 Net sales 644,000 Advertising expense 45,000 Accounts receivable 62,000 Cost of goods sold 368,000 General and administrative expenses 143,000
Required:
a. Calculate the operating income for Manahan Co. for the year ended December 31, 2013. Manahan Co operating Income Statement For the year ended December 31, 2013
b. Calculate the companys net income for 2013.
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