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MacBurger 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.
MacBurger 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 MacBurger 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.
Accounts Payable | 69,000 |
Accumulated Depreciation | 394,000 |
Capital Expenditures | 63,000 |
Cash | 20,000 |
Common Equity | 896,000 |
Cost of Goods Sold | 371,000 |
Current Liabilities | 179,000 |
Depreciation | 131,000 |
Dividends to shareholders | 24,000 |
Interest Expense | 54,000 |
Interest Income | 16,000 |
Inventory | 84,000 |
Research & Development Expense | 38,000 |
Sales | 824,000 |
Selling, General & Admin. Expense | 118,000 |
Taxes (% of taxable income) | 25% |
Total Assets | 644,000 |
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