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Suppose Ruston Company has the following revenue and expenses for 2018: Revenues of $7,800,000 Cost of Goods Sold of $1,560,000 Depreciation Expenses of $700,000 Income
Suppose Ruston Company has the following revenue and expenses for 2018:
Revenues of $7,800,000 Cost of Goods Sold of $1,560,000 Depreciation Expenses of $700,000 Income Taxes of $1,676,000 Interest Expenses of $70,000 Other Expenses of $500,000 Sales, General, & Administrative Expenses of $780,000
Use an income statement with amounts in thousands
A) What is the value of Pre-Tax Income? and B) What is the value of Net Income?
Please specify your answer in the same units as the income statement.
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