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Related to Checkpoint 3.1) (Working with the income statement) At the end of its third year of operations, the Sandifer Manufacturing Co. had $4,579,000 in
Related to Checkpoint 3.1) (Working with the income statement) At the end of its third year of operations, the Sandifer Manufacturing Co. had $4,579,000 in evenues, $3,343,000 in cost of goods sold, $452,000 in operating expenses which included depreciation expense of $148,000, and a tax liability equal to 34 percent of Che firm's taxable income. What is the net income of the firm for the year? Complete the income statement for Sandifer Manufacturing Co.: (Round to the nearest dollar.) Revenues = Less: Cost of Goods Sold = $ Equals: Gross Profit = Less: Operating Expenses = $ $ | Less: Interest Expense = $ Equals: Net Operating Income = o Equals: Earnings before Taxes = $ | Less: Income Taxes = Equals: Net Income = $ D
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