Question 24:

Question 24 (3.3338 points) Listen In Year 1, Aliyah's Boutique (a retail clothing company) sold 11,100 units of its product at an average price of $29 per unit. The company reported estimated returns and allowances in Year 1 of 2.0 percent of gross revenue. Aliyah's Boutique actually purchased 10,730 units of its product from its manufacturer in Year 1 at an average cost of $13 per unit. Aliyah's Boutique began Year 1 with 32,530 units of its product in inventory (carried at an average cost of $13 per unit). Operating expenses (excluding depreciation) for Aliyah's Boutique in Year 1 were $32,530, depreciation expense was $19,360, and interest expense was $8,590. Finally, Aliyah's Boutique's tax rate was 30 percent and Aliyah's Boutique paid of dividend of $3,700 at the end of Year 1. Aliyah's Boutique fiscal year runs from September 1 through August 31. Given this information, compute net income for Aliyah's Boutique for Year 1. Record your answer as a dollar amount rounded to 0 decimal places; do not include a dollar sign or any commas in your answer. For example, record $23,456.8905 as 23457