Sales = $564,000
Less:
Costs = ($395,000)
Depreciation Expense = ($55,000)
Interest Expense = ($30,000)
Income Before Tax = $84,000
Less: Income tax (24%) = $20,160
Net Income of Firm = $63,840
Griffin's Goat Farm, Inc., has sales of $564,000, costs of $395,000, depreciation expense of $55,000, interest...
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