(Answered) A financial analyst at spj manufacturing corporation has

Management Studies

A financial analyst at SPJ Manufacturing Corporation has assembled the following data for the last fiscal year. All data is in millions (M).

Gross sales $10M

Returns and allowances $1M

Cost of gold sold $3M

Operating expenses $ 2M

Interest expenses $0.5M

Taxes $0.1M

Cash dividends $0.4M

Common stock $1M

What is the net income or loss for the SPJ Manufacturing Corporation for the last fiscal year?

a. net income of $3M

b. net loss of $4M

c. net loss of $3M

d. net income of $4M

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