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Husain, Inc. 's income statement and other financial information for the current year is presented below. Hussain, Inc. Income Statement For the year ended December
Husain, Inc. 's income statement and other financial information for the current year is presented below. Hussain, Inc. Income Statement For the year ended December 31 Sales revenue Cost of goods sold $249,131 82,360 Gross profit Selling, general & administrative expenses 166,771 15,885 Operating income Interest expense 150,886 5,547 Income before taxes Income tax expense 145,339 5,214 Net income $140,125 Balance sheet information: Current assets Noncurrent assets Current liabilities Long-term debt $259,000 518,000 68,000 136,000 Using the above information
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