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During the year, Belyk Paving Company had sales of $2,380,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,320,000, $605,000, and
During the year, Belyk Paving Company had sales of $2,380,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,320,000, $605,000, and $441,000, respectively. In addition, the company had an interest expense of $266,000 and a tax rate of 22 percent. (Ignore any tax loss carryforward provision and assume interest expense is fully deductible.) What is the companys net income? Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32
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