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jakails828
05.05.2020 •
Business
Rogue Industries reported the following items for the current year: Sales = $3,000,000; Cost of Goods Sold = $1,500,000; Depreciation Expense = $170,000; Administrative Expenses = $150,000; Interest Expense = $30,000; Marketing Expenses = $80,000; and average tax rate = 40%. What is the company’s Net Income?Try answering the question by recreating the company’s entire Income Statement as much as possible.
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Ответ:
Net Income = $642,000
Explanation:
Income Statement
Sales 3,000,000
Less: Cost of Goods Sold (1,500,000)
Gross Profit 1,500,000
Less: Administrative Expenses (150,000)
Marketing Expenses (80,000)
Depreciation Expense (170,000)
Operating Income 1,100,000
Less: Interest Expense (30,000)
Earnings before Taxes 1,070,000
Less: Taxes (40%) (428,000)
Net Income 642,000
Ответ:
Can we use the process of elimination to prove who was guilty of the classroom food mess.