Selected data for three companies are given below. All inventory amounts are ending balances and all amounts are in millions.
Company A:Sales Revenue = $48Cost of Goods Sold = $25Gross Profit = $23Operating Expenses: Administrative Expenses = $7 Selling Expenses = $4Total Operating Expenses = $11Operating Income = $12Company B:Service Revenue = $41Expenses: Wages Expense = $20 Rent Expense = $18Total Expenses = $38Operating Income = $3Company C:Sales Revenue = $58Cost of Goods Sold = $27Gross Profit = $31Operating Expenses: Admin Expenses = $3 Selling Expenses = $4Total Expenses = $7Operating Income = $24