Streif Inc., a local retailer, has provided the following data for the month of June: The net operating income for June was:
A) $132,000
B) $126,000
C) $85,000
D) $79,000

Name: Streif Inc., a local retailer, has provided the following data for the month of June: The net operating income for June was: A) $132,000 B) $126,000 C) $85,000 D) $79,000
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Question

Streif Inc., a local retailer, has provided the following data for the month of June:  The net operating income for June was:
A) $132,000 
B) $126,000 
C) $85,000 
D) $79,000

Quizplus · Accepted Answer

Net operating income = Sales − Cost of goods sold − Selling and administrative expenses
= $260,000 − $122,000 − ($13,000 + $40,000)
= $85,000