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Clean Machine had sales of $5 million in 2019. Its cost of goods sold was $3 million, and it had $0.8 million in selling, general,
Clean Machine had sales of $5 million in 2019. Its cost of goods sold was $3 million, and it had $0.8 million in selling, general, and administrative expenses. It paid interest of $17000 and dividends to its shareholders of $28000. For simplicity, assume a flat tax rate of 25%. The firms operating profit in 2019 was
A) $859,250
B) $887,250
C) $1,183,000
D) $1,200,000
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