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ABC Corp. purchased a new machine for $100,000 on January 1, 2012. The machine has a useful life of 5 years and no residual value.

ABC Corp. purchased a new machine for $100,000 on January 1, 2012. The machine has a useful life of 5 years and no residual value. ABC Corp. uses straight-line depreciation. The company also had the following transactions during the year ending December 31, 2013: Net sales: $1,000,000 Cost of goods sold: $500,000 Operating expenses: $300,000 Interest expense: $50,000 Income tax expense: $100,000 Calculate the following financial data for ABC Corp.: a. Depreciation expense for 2013 b. Gross profit for 2013 c. Operating profit for 2013 d. Net profit for 2013 e. Return on assets for 2013

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