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For the past year, shame ltd., had sales of $45,002, interest expense of $4,306, cost of goods sold of $18,349, selling and administrative expense of $12,146, and depreciation of $6,995. If the tax rate was 33 percent, what was the company's net income?

For the past year, shame ltd., had sales of $45,002, interest expense of $4,306, cost of goods sold of $18,349, selling and administrative expense of $12,146, and depreciation of $6,995. If the tax rate was 33 percent, what was the company's net income?

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, shame ltd., had sales of $45,002, interest expense of $4,306, cost of goods sold of $18,349, selling and administrative expense of $12,146, and depreciation of $6,995. If the tax rate was 33 percent, what was the company's net income?

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