Business, 16.10.2020 14:01 tatenasira

The adjusted trial balance of Norton Company contained the following information. Assume the tax rate is 25%: Debit Credit
Sales revenue $390,000
Sales returns and allowances $10,000
Sales discounts 5,000
Cost of goods sold 200,000
Operating expenses 110,000
Interest revenue 8,000
Interest expense 3,000

Required:
Compute income from operations.

a. $175,000
b. $65,000
c. $50,000
d. $70,000

Answers: 3

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