The ABC Company has net sales of $700,000, a gross profit margin of 40%, operating expenses (excluding depreciation) of $120,000, depreciation expense of $18,000, interest expense of $26,000, taxes of $45,000 and dividends paid of $8,000. What is ABc's net income?

The ABC Company has net sales of $700,000, a gross profit margin of 40%, operating expenses (excluding depreciation) of $120,000, depreciation expense of $18,000, interest expense of $26,000, taxes of $45,000 and dividends paid of $8,000. What is ABc's net income?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 10P: The Moore Corporation has operating income (EBIT) of 750,000. The companys depreciation expense is...

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