Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Financial Accounting

During the year, Brighton Industries had sales of
$3,000,000. The cost of goods sold (COGS) and
depreciation expense were $2,200,000 and $550,000,
respectively. The company had a net interest expense of
$250,000 and a tax rate of 30%.
What is Brighton Industries' net income?
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Transcribed Image Text:During the year, Brighton Industries had sales of $3,000,000. The cost of goods sold (COGS) and depreciation expense were $2,200,000 and $550,000, respectively. The company had a net interest expense of $250,000 and a tax rate of 30%. What is Brighton Industries' net income?
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