Question
How do I calculate Net income from the following information? I would appreciate step by step guidance as to what I use and what I
How do I calculate Net income from the following information? I would appreciate step by step guidance as to what I use and what I dont need to reach Net Income and what the Net Income is.
Cash 14,870
Accounts Receivable 22,180
Prepaid 3,010
Supplies 927
Equipment 62,150
Accumulated Deprecation 13,750
Accounts payable 28,000
Net Sales 325,000
Interest Expenses 6,000
Tax Expense 12,600
Earnings Before interest & Taxes 122,623
Number of shares outstanding 335,000
I believe the supplies and equipment are assets (according to previous questions in this class)
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