You need to present a summary of your income statement to potential investors. According to the information in the Income Statement, what is your Operating Income? •Income statement for year ending December 31 Revenues oSales: $200,000 oCost of Goods Sold: $50,000 oServices: $75,000 •Total Revenues: $225,000 •Expenses oRent and Utilities: $30,000 oSupplies: $1750 oInsurance: $1000 oSales Reps: $90,000 oStaff: $33,750 oAdministrative: $22,500 oOther: $1000 •Total Expenses: $180,000 •Income Before Taxes: $45,000 •Net Income: $38,700 a.$38,700 b.$45,000 x c.$225,000 d.$275,000
