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Using the information provided, calculate net income for 2002. Assume a tax rate of 40 percent. Inventory $5,000 Sales $200,000 Depreciation expense $5,000 Cost of
Using the information provided, calculate net income for 2002. Assume a tax rate of 40 percent.
Inventory $5,000
Sales $200,000
Depreciation expense $5,000
Cost of goods sold $100,000
Interest expense $10,000
Operating expenses $30,000
| a. | $33,000 | |
| b. | $44,000 | |
| c. | $55,000 | |
| d. | $66,000 |
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