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From the data below, calculate operating income for the year ended December 31, 2008

R & D = $86,000
Loss from discontinued operations = 34,000
Provision from income taxes = 68,000
Net sales = 1,022,000
Interest expense = 72,000
Net cash from operations = 76,000
Gross profit = 292,000
Selling, general expenses = 62,000
Accounts receivable = 134,000
Extraordinary gain from lawsuit
settlement, net of tax expense
of $26,000 90,000

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This solution is comprised of a detailed explanation to calculate operating income for the year ended December 31, 2008.

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From the data below, calculate operating income for the year ended December 31, 2008

R & D = $86,000
Loss from discontinued operations = 34,000
Provision from income taxes = 68,000
Net sales = 1,022,000
Interest expense = 72,000
Net cash from operations ...

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