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    operating income

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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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    Solution Preview

    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 ...

    Solution Summary

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

    $2.19

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