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The following information is given to you relating to the operations of Princehall Corporation: The income tax rate is 40%. Net sales $11,862 Cost of
The following information is given to you relating to the operations of Princehall Corporation: The income tax rate is 40%. Net sales $11,862 Cost of sales Gross margin $ 3.541 Selling, general, and administrative expenses $ 2,743 Depreciation, amortization, and asset write-offs 278 Total operating expenses Income from operations Interest expense 91 Interest and other income 11 Earnings before income taxes Income taxes Net earnings 161 Calculate the income from operations
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