The Callie Company has provided the following information: Operating expenses were $234,000; Cost of goods sold was $318,000; Net sales were $840,000; Interest expense was $37,000; Gain on sale of investments was $74,000; Income tax expense was $97,500. What was Callie’s income from operations (operating income)?

1. is the act of declaring a drivers license void and terminated when it is determined that the license was issued through error or fraud.

Which of the following statements is correct? a major disadvantage of a partnership relative to a corporation is the fact that federal income taxes must be paid by the partners rather than by the firm itself. in a typical partnership, liability for other partners’ misdeeds is limited to the amount of a particular partner’s investment in the business. true in a limited partnership, the limited partners have voting control, while the general partner has operating control over the business, and the limited partners are individually responsible, on a pro rata basis, for the firm’s debts in the event of bankruptcy. partnerships have more difficulty attracting large amounts of capital than corporations because of such factors as unlimited liability, the need to reorganize when a partner dies, and the illiquidity of partnership interests.

To assess the risk and return involved in a purchase decision, which practical questions should a potential buyer ask? select three options. what can go wrong? what are the alternatives? how will it affect my status in society? what is the likely return? is the risk worth the return?