Question
At the end of its third year ofoperations, the Sandifer Manufacturing Co. had $ 4 comma 540 comma 000 $4,540,000 inrevenues, $ 3 comma 391
At the end of its third year ofoperations, the Sandifer Manufacturing Co. had $ 4 comma 540 comma 000
$4,540,000 inrevenues, $ 3 comma 391 comma 000
$3,391,000 in cost of goodssold, $ 440 comma 000
$440,000 in operating expenses which included depreciation expense of $ 157 comma 000
$157,000, and a tax liability equal to 34
34 percent of thefirm's taxable income. What is the net income of the firm for theyear?
Revenues =
$
Less:
Cost of Goods Sold =
$
Equals:
Gross Profit =
$
Less:
Operating Expenses =
$
Equals:
Net Operating Income =
$
Less:
Interest Expense =
$
0
Equals:
Earnings before Taxes =
$
Less:
Income Taxes =
$
Equals:
Net Income =
$
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