Question
Forever 21 Inc has the income statement shown Below. What is the Net Profit Margin? Round your answers. INCOME STATEMENT Net Sales $31,000,000 Cost of
Forever 21 Inc has the income statement shown Below. What is the Net Profit Margin? Round your answers.
| INCOME STATEMENT | |
| Net Sales | $31,000,000 |
| Cost of Goods Sold | $10,230,000 |
| Gross Profit | $20,770,000 |
| Depreciation Expense | $2,200,000 |
| S&A Expenses | $1,088,000 |
| Operating Income (EBIT) | $17,482,000 |
| Interest Expense | $3,600,000 |
| Income before Taxes | $13,882,000 |
| Income Taxes (42%) | $5,830,440 |
| Net Income | $8,051,560 |
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
