Question

Nimi Rental Company provided the following information to auditors. For the year ended March 31, 2013, the company had revenue of $877,100, general and administrative expense of $363100, depreciation expenses of $131,455, leasing expenses of $108,195, and interest expenses equal to $78,122. If the company's tax rates 34 percent, what is net income after taxes (Round intermediate calculations and final answer to the nearest whole dotare. 5.225) Nimita Rental Company Income Statement as of March 31, 2013 Amount Net Sales General and Administrative Expenses Leasing Experts Earnings Before Interest, Taxes, Depreciation, and Amortization Depreciation Earnings are interest and es Interesteparte Net Income L.036

Answer 1

Nimitz Rental company

Income statement as of March 31,2013

Particulars	Amount
Net Sales	$877,100
General and administrative expenses	($363,100)
	$514,000
Leasing expenses	$(108,195)
Earning before interest,tax, depreciation and amortization	$405,805
Depreciation	($131,455)
Earning before interest and tax	$274,350
Interest	($78,122)
Earning before tax	$196,228
Tax(34%)[$196,228×34%]	$(66,717.52)
Net income	$129,510.48 or $129,510.