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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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