Question
SleepItOff Properties is a West Coast company that owns and operates several hotel chains. Here is their partially completed income statement for the most recent
SleepItOff Properties is a West Coast company that owns and operates several hotel chains. Here is their partially completed income statement for the most recent fiscal year. Matt Tress, a summer intern for the finance team was asked to calculate some basic performance metrics as part of his training. He also was told that the company had $15 million in cash and $167 million of other assets.
For Year Ending
Dec 31, 2013 $Mill Total Revenue $90 Cost of Revenue $28 Gross Profit ? General, Selling and Admin $20 Depreciation $10 Operating Income or Loss ? Interest Expense $15 Pre-Tax Income ? Income Taxes ? Net Income ?
If SleepItOff's Tax Rate is 30%, what is SleepItOff's Net Income?
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