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A company reports the following information as of December 31st:
Sales revenue $ 350,000
Cost of goods sold $ 150,000
Operating expenses $ 110,000
Foreign currency translation gain $ 25,000
1. Ignoring income taxes, what amount should the company report as net income as of December 31st?

Respuesta :

facundobuzzetti

Answer:

The company will report $115,000

Explanation:

Giving the following information:

Sales revenue= 350,000

Cost of goods sold= (150,000)

Gross profit= 200,000

Operating expenses= (110,000)

Net operating income= 90,000

Foreign currency translation gain= 25,000

Net income= 115,000

The company will report $115,000

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