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For the past year, a firm had sales of $41,987, interest expense of $3,232, cost of goods sold of $16,500, selling and administrative expense of $11,000, and depreciation of $6,200. If the tax rate was 21 percent, what was the company's net income? $3,794 $3,993 $3,281 O $5,590

For the past year, a firm had sales of $41,987, interest expense of $3,232, cost of goods sold of $16,500, selling and administrative expense of $11,000, and depreciation of $6,200. If the tax rate was 21 percent, what was the company's net income? $3,794 $3,993 $3,281 O $5,590

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...
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For the past year, a firm had sales of $41,987, interest expense of $3,232, cost of goods sold of $16,500, selling and administrative expense of $11,000, and depreciation of $6,200. If the tax rate was 21 percent, what was the company's net income? O $3,794 O $3,993 $3,281 O $5,590
Transcribed Image Text:For the past year, a firm had sales of $41,987, interest expense of $3,232, cost of goods sold of $16,500, selling and administrative expense of $11,000, and depreciation of $6,200. If the tax rate was 21 percent, what was the company's net income? O $3,794 O $3,993 $3,281 O $5,590
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