Porches, Inc

Multiple Choice

Porches, Inc. sells lawn furniture. Selected financial information for the most recent year is as follows: Beginning merchandise inventory on January 1 was $33,300.
Ending merchandise inventory on December 31 was $35,000.
Purchases during the year were $92,300.
Selling and administrative expenses were $75,900.
Sales for year were $262,700.
What was operating income for the year?

A) $90,600
B) $96,200
C) $94,500
D) $92,800