Q 56

The Nellie Company has provided the following information: Operating expenses were $115,000; Gross profit was $629,000; Cost of goods sold was $470,000; Interest expense was $17,000; Income tax expense was $199,000. What was Nellie's operating income? A)$514,000. B)$612,000. C)$497,000. D)$298,000.

Multiple Choice