The Willie Company has provided the following information: Operating expenses were $345,000;
Income from operations was $415,000;
Net sales were $1,100,000;
Interest expense was $71,000;
Loss from sale of investments was $87,000;
Income tax expense was $58,000.
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What was Willie's nonoperating income (expense)?
A)($71,000).
B)($158,000).
C)$216,000.
D)$257,000.

Question

Quizplus · Accepted Answer

Nonoperating income (expense) is calculated by adding together all income and expenses not related to the normal operations of the business. In this case, the nonoperating income (expense) is the sum of interest expense and loss from sale of investments, which equals $71,000 + $87,000 = $158,000.

The Willie Company Has Provided the Following Information: Operating Expenses