Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

XYZ Co has disclosed the following financial information for the period ending 12/31/19: sales of $1,534,991, cost of goods sold of $849,041, depreciation expenses of

XYZ Co has disclosed the following financial information for the period ending 12/31/19: sales of $1,534,991, cost of goods sold of $849,041, depreciation expenses of $101,214, and interest expenses of $81,196. Assume that the firm has an average tax rate of 35 percent.

What is the company's net income? ( Please round your answer for the Tax and Net income line to the whole number, for example 5. )

Sales 1534991

COGS ( 849041 )

Deprecation ( 101214 )

Interest exp ( 81196 )

------------------------------------

Pre-Tax Income ?

Tax ?

Net Income ?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Finance

Authors: Ronald R. Pitfield

1st Edition

0852581513, 978-0852581513

More Books

Students also viewed these Finance questions

Question

=+Who are you right now, and where do you want to be?

Answered: 1 week ago