Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall

Exercise 24

Calculate operating income and net income Selling, general, and administrative expenses were $66,000; net sales were $300,000; interest expense was $7,100; research and development expenses were $31,500; net cash provided by operating activities was $79,200; net income was $16,800; income tax expense was $7,600; cost of goods sold was $165,000.
Required:
a. Calculate operating income for the period.
b. Calculate net income for the period.