Cengage CengageNOW| Online teachin × C Accounting Chegg.com Onelogin x d 7 ways

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Cengage CengageNOW| Online teachin × C Accounting Chegg.com Onelogin x d 7 ways to take screenshots in V + nmentMain.do?takeAssignm .Search Test: Ch 24-5 Test Time Remaining: 0:50:44 Email Instructor Questions D Muliple Choice 24-032 Algorithmic 1. Save Submit Test for Grading 4 Question 3 of 19 The following financial information was summarized from the accounting records of Block Corporation for the current year ended December 31 3. Software Division $45,364 526,314 $93,286 Hardware Corate Total 5 Cost of goods sold 6. Direct operating expenses Division $31,655 $20,998 $69,827 Net sales Interest expense 8. General overhead 9. Income tax 10. O $2,300 $19,869 $4,353 What is the net income for Block Corporation? Select the correct answer O $86,094 O $69,064 O $12,260 O $38,782 12. 13. O 14. O 15. O 16. O 17. Icon Key b Muliple Choice 24-032 Algorithmic 4 Question 3 of 19 1:34 PM O Type here to search A10/2018 12

Explanation / Answer

Answer c .$12,260

Explanation :

Computation of Net profit of Block Corporation

Software Division ($) Hardware ($) Corporate Total ($) Net Sales 93,286 69,827 163,113 Less : Cost of goods sold (45,364) (31,655) (77,019) Less : Direct operating expenses (26,314) (20,998) (47,312) Gross Profit 38,782 Less : General overhead (19,869) Less : Interest expense (2,300) Less : Income tax (4,353) Net Income $12,260

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