During the past year, the company’s financial results reflected the following: Selling, general, and administrative expenses of 200,000 Net sales of 1,200,000 Interest expense of 100,000 Research & development expense of 50,000 Cost of goods sold of 800,000 Income tax expense of 17,500 Calculate operating income $ for the year.

Operating Income                     $ 200,000

Explanation:

The Company’s Income STatement

Net sales  $ 1,200,000

Cost of goods sold of 800,000

Gross Profit  $ 400,000

Selling, general, and administrative expenses of 200,000

Operating Income                     $ 200,000

Research & development expense of 50,000

Income before Income Tax           $ 150,000

Income tax expense 17,500

Net Income             $ 132,500

The operating income does not include other expenses such as Research & development expenses  and income tax.

the specific actions take by the fed. what the fed was attempting to do by taking these actions. the result of the actions taken by the fed

answerembargo;