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Calculate income from operations and net income Selected information taken from the financial… 1 answer below » Calculate income from operations and net income Selected information taken from the financial statements of Fordstar Co. for the year ended December 31, 2013, follows: View complete question » Net cash provided by operations ………………………………………………………………….. $ 49,000 Cost of goods sold …………………………………………………………………………………….. 155,000 Selling, general, and administrative expenses ………………………………………………… Calculate income from operations and net income Selected information taken from the financial statements of Fordstar Co. for the year ended December 31, 2013, follows: Net cash provided by operations ………………………………………………………………….. $ 49,000 Cost of goods sold …………………………………………………………………………………….. 155,000 Selling, general, and administrative expenses …………………………………………………. 62,000 Accounts payable………………………………………………………………………………………. 45,000 Dividends paid…………………………………………………………………………………………… 68,000 Research and development expenses …………………………………………………………… 15,000 Merchandise inventory………………………………………………………………………………… 39,000 Provision for income taxes …………………………………………………………………………… 420,000 Net sales ………………………………………………………………………………………………….. 32,000 Interest expense a. Calculate income from operations (operating income) for the year ended December 31, 2013. (Hint: You may wish to review Exhibit 2-2.) b. Calculate net income for the year ended December 31, 2013. View less » Dec 04 2015 02:57 PM
