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Use the following information to compute NET INCOME. The income tax rate on all items is 40%. Cost of Goods Sold $ 11,000 Interest Expense
Use the following information to compute NET INCOME. The income tax rate on all items is 40%.
Cost of Goods Sold | $ 11,000 |
Interest Expense | 2,100 |
Loss from sale of land | 1,000 |
Cash | 900 |
Selling and Administrative Expense | 1,750 |
Accounts payable | 400 |
Sales | 20,000 |
Gain from sale of equipment | 1,250 |
Dividends | 700 |
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