Question
Gear Inc. has just finished up its year. Use the information below to compute the company's Net Income. Note that some items might not be
Gear Inc. has just finished up its year. Use the information below to compute the company's Net Income. Note that some items might not be needed. If Gear Inc has negative taxable income, the firm will receive a tax credit based on the same percentage as its tax rate. Answer to the nearest dollar. Do not enter a $ sign.
Accounts Payable 65,000 Common Equity 904,000 Cost of Goods Sold 434,000 Current Liabilities 238,000 Depreciation 110,000 Dividends to shareholders 22,000 Interest Expense 75,000 Interest Income 24,000 Inventory 91,000 Research & Development Expense 44,000 Sales 783,000 Selling, General & Admin. Expense 92,000 Taxes (% of taxable income) 31% Total Assets 629,000
a. 20450.00
b. 24760.00
c. 31220.00
d. 17580.00
e. 27270.00
f. 35880.00
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