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Zigs Industries had the following operating results for 2015 : sales =$25,770; cost of goods sold = $19,620; depreciation expense =$4,175; interest expense =$2,062; dividends
Zigs Industries had the following operating results for 2015 : sales =$25,770; cost of goods sold = $19,620; depreciation expense =$4,175; interest expense =$2,062; dividends paid =$1,973. At the beginning of the year, net fixed assets were $15,968, current assets were $5,451, and current liabilities were $3,491. At the end of the year, net fixed assets were $20.458, current assets were $7,942, and current liabilities were $3,548. The tax rate for 2015 was 35 percent. What is net income for 2015? (Negative amount (indicating a net loss) should be indicated by a minus sign. Round your answer to the nearest dollar amount. Omit the " $ " sign and commas in your response. For example, $123,456.78 should be entered as 123457.)
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