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2.3 Income Statement (cont'd)<br />
• Gross Profit<br />
– minus<br />
• Operating Expenses<br />
• Selling, General, and Administrative Expenses<br />
• R&D<br />
• Depreciation & Amortization<br />
– equals<br />
• Operating Income<br />
Copyright ©2014 Pearson Education, Inc. All rights reserved. 2-29
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