Q 5.25: A company reports sales of $300,000, cost of goods sold of $200,000, interest expense of $6,000, depreciation expense of $12,000, a loss on disposal of equipment of $2,000, and all other expenses of $30,000. Its income tax rate is 30% and accounting income as per the figures above is equal to taxable income. What is its net income? A $15,000 $56,000 C $35,000 D $39,200