At the end of its third year of operations, the Sandifer manufacturing Co had $ 4600,000 in
Fantastic news! We've Found the answer you've been seeking!
Question:
At the end of its third year of operations, the Sandifer manufacturing Co had $ 4600,000 in revenue, $3345,000 in cost of good sold $ 451,000 in operating expenses which included depreciation expense of $ 157,000 and a tax liability equal to 34% of the firm taxable income. What is the net income of the firm for the year.
Revenue = $
Less: cost of goods sold= $
Equal Gross Profit =
Less: Operating Expenses = $
Equals: Net Operating Income = $
Less: interest Expense = $ 0
Equals: Earnings before taxes = $
Less: Income Taxes = $
Equals : Net Income = $
Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
Posted Date: