Sales $350,000 Cost of goods sold $120,000 Total fixed expenses $60,000 Total variable expenses $100,000 Which amount would you find on Chap's CVP income statement?

Net operating income = $70,000

Explanation:

Giving the following information:

Sales $350,000 Cost of goods sold $120,000 Total fixed expenses $60,000 Total variable expenses $100,000

Income statenent:

Sales = 350,000

COGS = (120,000)

Total variable expenses = (100,000)

Contribution margin = 130,000

Total fixed expense = (60,000)

Net operating income = 70,000