JR's Jigsaws had Sales of $20,000 in the current year. The Cost of Goods Sold was $13,000,
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Question:
JR's Jigsaws had Sales of $20,000 in the current year.
The Cost of Goods Sold was $13,000,
General and Administrative Expenses were $2,000
Interest Expenses were $1,000
Depreciation was $2,000
The firm's Tax Rate is 35%
a) What is Earnings Before Interest and Taxes? ______________________ DO NOT USE DOLLAR SIGNS IN YOUR ANSWERS!
b) What is Net Income? _____________________________
Related Book For
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina
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