A small manufacturing company with a gross income of $360,000 has the following operating expenses: M&O = $76,000, insurance = $7000, labor = $110,000, utilities = $29,000, debt service = $37,000, and taxes = $9000. The net operating income (NOI) is closest to: (choose one)

(a) $92,000
(b) $101,000
(c) $138,000
(d ) $174,000


NOI = 360,000 – 76,000 – 7000 – 110,000 – 29,000
= $138,000

Answer is (c) $138,000

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