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Lenox, Inc. has an income tax rate of 20%. During the first quarter of 2018, Lenox reports the following activities: Gross revenue of $475,000. Sales

Lenox, Inc. has an income tax rate of 20%. During the first quarter of 2018, Lenox reports the following activities:

  • Gross revenue of $475,000.
  • Sales returns of $3,600.
  • Sales discounts of $6,400.
  • Cost of goods sold of $242,600.
  • Wage expense of $127,200.
  • Total other operating expenses (depreciation, utilities, etc.) of $83,500.
  • A gain on the sale of used equipment of $3,400.
  1. What is Lenoxs net revenue for the 1st quarter? $
  2. What is Lenoxs gross profit for the 1st quarter? $
  3. What is Lenoxs operating income for the 1st quarter? $
  4. What is Lenoxs pretax income for the 1st quarter? $
  5. What is Lenoxs income tax expense for the 1st quarter? $
  6. What is Lenoxs net income after taxes for the 1st quarter? $

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