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Raj Corporation had a gross profit of $40,000 which was one-third of its total sales. Raj's net income (PAT) for the period was one-eighth of
Raj Corporation had a gross profit of $40,000 which was one-third of its total sales. Raj's net income (PAT) for the period was one-eighth of its cost of goods sold. Raj's selling expenses totaled $10,000. Its interest expense was three times its tax expense and $1,000 more than its general and administrative expenses
Determine the following only:(PLS DO NOT PREPARE THE INCOME STAT)
- Sales
- Cost of goods sold
- Net income (PAT)
- Income taxes
- Interest expenses
- General and operative expenses
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