The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: The income from operations for the Rails Division is
A) $60,800
B) $33,600
C) $8,700
D) $21,150

Question

The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31:  The income from operations for the Rails Division is
A) $60,800 
B) $33,600 
C) $8,700 
D) $21,150

Quizplus · Accepted Answer

The income from operations for the Rails Division can be obtained by subtracting the total expenses ($63,400) from the revenue ($97,000) for the Rails Division only. Therefore, income from operations for the Rails Division is $33,600.

The Following Financial Information Was Summarized from the Accounting Records