You are reviewing go-for-its income statement for last year, Accounting Basics

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You are reviewing go-for-its income statement for last year

Problem

You are reviewing Go-for-IT's income statement for last year. The company's net sales equaled $2, 400,000, the ending inventory on December 31 was $90,000, the cost of goods sold was $1, 850,000, and the total operating expenses equaled $324,000. What was its net income from operations?

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Accounting Basics: You are reviewing go-for-its income statement for last year

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