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im confused and need help This year, Piggy Bank Inc. reported $1,575,000 in sales, $685,000 of operating costs other than depreciation, and $21,500 of depreciation.
im confused and need help
This year, Piggy Bank Inc. reported $1,575,000 in sales, $685,000 of operating costs other than depreciation, and $21,500 of depreciation. The company had a federal-plus-state income tax rate of 25.00%. During last year, the firm had expenditures on fixed assets and net operating working capital that totaled $15,000. These expenditures were necessary for it to sustain operations and generate future sales and cash flows. Calculate current year net income Step by Step Solution
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