FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Use the following information to compute net income. The
income tax rate is 40%.
Cost of Goods Sold
Interest Expense
$4,000
1,100
Selling and Administrative Expense 1,750
Sales
Dividends
a) $1,470
b) $1,890
c) $1,190
d) $1,260
e) $980
10,000
700
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Transcribed Image Text:Use the following information to compute net income. The income tax rate is 40%. Cost of Goods Sold Interest Expense $4,000 1,100 Selling and Administrative Expense 1,750 Sales Dividends a) $1,470 b) $1,890 c) $1,190 d) $1,260 e) $980 10,000 700
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