A financial analyst at RMO M Manufacturing Corporation assembled the following data for the last fiscal year. All data is in millions (m) gross sales…

expenses$0.5(M)

returns and allowances $1(M)

taxes $0.1(M)

the cost of goods sold $3(M)

Cash dividends $0.4 (M)

operating expenses $ 3 M

common stock $ 1m

What is the net income or loss for the RMO Manufacturing Corporationfor the last fiscal year ?

A. net income of $4m

B. net income of $5m

c.net loss of $4

d. net loss loss of $5m

Income statementFor the year ended Gross Bales. _ alumnaeLess: Returns sndsflewsnees $I=DDD=DDD —Less: Cestofgeeds sold fineness — Gross profit _ finenessLess: Operating expense $3_ DUE…