you have the following income statement data sales 900 Costs of goods sold (Depreciation not included)...

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Question

you have the following income statement data sales 900 Costs of goods sold (Depreciation not included)...

you have the following income statement data

sales 900

Costs of goods sold (Depreciation not included) 488

Depreciation 110

Interest expense 74

Tax Rate 35%

Calculate Net income

business finance

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Answer 1

Answer #1

Sales	$ 900
Cost of Goods Sold	488
Gross Profit	412
Less: Depreciation	110
Earnings before Interest and Taxes	302
Less: Interest Expense	74
Earnings before Taxes	228
Less: Tax Expense ( 35 % )	79.80
Net Income	148.20

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Answer 2

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you have the following income statement data sales 900 Costs of goods sold (Depreciation not included)...

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