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At the end of its third year of operations, the Sandifer Manufacturing Co. had $4, 500,000 in revenues: $3, 375,000 in cost of goods sold:
At the end of its third year of operations, the Sandifer Manufacturing Co. had $4, 500,000 in revenues: $3, 375,000 in cost of goods sold: $450,000 in operating expenses, which included depreciation expense of $150,000: and had a tax liability equal to 35 percent of the firm's taxable income. What is the net income of the firm for the year
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