Papa Roach Exterminators, Inc., has sales of $584,000, costs of $315,000, depreciation expense of $45,000, interest...
Papa Roach Exterminators, Inc., has sales of $584,000, costs of $315,000, depreciation expense of $45,000, interest expense of $21,000, and a tax rate of 35 percent. What is the net income for firm?
Multiple Choice:
-
$131,950
-
$197,950
-
$152,950
-
$176,950
-
$-1,400
Homework Answers
A. $131,950
| Sales | $584,000 |
| Costs | $315,000 |
| Depreciation | $45,000 |
| EBIT | $224,000 |
| Interest | $21,000 |
| Taxable income | $203,000 |
| Taxes(35%) | $71,050 |
| Net income | $131,950 |
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