Question
Accounts payable 45,000 Accounts receivable 122,400 Accruals 13,500 Additional paid in capital 216,660 Cash ??? ??? Common Stock @ par value 42,000 COGS 170,859.00 Depreciation
Accounts payable
45,000
Accounts receivable
122,400
Accruals
13,500
Additional paid in capital
216,660
Cash
???
???
Common Stock @ par value
42,000
COGS
170,859.00
Depreciation expense
22,505.00
Interest expense
16,397.00
Inventories
115,200
Long-term debt
137,579.00
Net fixed assets
399,600
Notes payable
64,800
Operating expenses (excluding depreciaiton)
65,679.00
Retained earnings
136,800
Sales
338,326.00
Taxes
18,562.00
Hello I am given the current year's financial data for a firm. The question asks me: "What is the firm's net income for the current year?", It says the answer is $44,324, but I can't figure out how to get to it. Any help would be greatly appreciated. Thank You!
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Financial Management In The Sport Industry
Authors: Matthew T Brown, Daniel Rascher, Mark S Nagel, Chad McEvoy
2nd Edition
9781621590118
