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Bazman is an electronics retailer and provided the following select financial data (assume income statement items are for the full year): ($ in millions) December 31, 2020 Gross profit $140 Operating expenses 78 Accrued expenses 19 Prepaid wages 15 Depreciation & amortization expense 12 Prepaid rent 5 Stock based compensation expense 4 Other comprehensive income 5 Tax rate 25% Net income 41 Based on the information provided, what was operating income during 2020?

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Based on the expenses and gross profit of Bazman, the operating income during 2020 is $46.

How much is Bazman's operating income?

This can be found as:

= Gross income - Operating expenses - accrued expenses + prepaid expenses - depreciation and amortization

Solving gives:

= 140 - 78 - 19 + 15 - 12

= $46

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