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Calculate the net income given following information. Interest expense = $200 Cash in hand = $50 Depreciation = $500 Selling expense = $240 Cost of

Calculate the net income given following information. Interest expense = $200 Cash in hand = $50 Depreciation = $500 Selling expense = $240 Cost of goods sold = $3000 Sales = $4,750 Tax rate = 35% Account receivables = $900

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