88.  

Company XYZ reports the following financial information: Sales Revenue $350,000, Cost of Goods Sold $150,000, Operating Expenses $100,000, Interest Expense $30,000, and Income Tax Expense $40,000. Compute the net income for Company XYZ and elucidate the calculation process.

To compute the net income for Company XYZ, we commence with the total sales revenue and then deduct the cost of goods sold and operating expenses to arrive at the gross profit. Subsequently, we subtract interest expenses and income tax expenses from the gross profit. The resulting figure represents the net income for Company XYZ after accounting for all expenses and taxes.