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A company reported a sale revenue for $700,000. The gross profit margin is 60% and the selling expenses are 10% of the sales revenue. The
A company reported a sale revenue for $700,000. The gross profit margin is 60% and the selling expenses are 10% of the sales revenue. The general and administrative expenses are $77,000 and the income tax rate for the current year is 25%. Compute the net income. a. $99,750 b. $204,750 c. $273,000 d. $262,500 Answer * B c D
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