1. Suppose that for the year 2015, Speedy Chef, a fast food restaurant, had a gross profit of $1,281,648. 
2. Speedy Chef had the following expenses: 
3. 
   
4. Cost of Goods Sold 1,251,167 
5. 
   
6. Selling Expenses 70,578 
7. 
   
8. Rental Expenses 156,941 
9. 
   
10. Utility Expenses 73,994 
11. 
    
12. Insurance Expenses 35,148 
13. 
    
14. Salaries 505,245 
15. 
    
16. General and Administrative Expenses 24,358 
17. 
    
18. Miscellaneous Expenses 32,968 
19. 
    
20. Interest Expenses 4,059 
21. 
    
22. Income Tax Expenses income 60,596 
23. 
    
24. What would be Speedy Chef's pre-tax income in 2015?

Answer rating: 100% (QA)

To calculate Speedy Chefs pretax income in 2015 we need to subtract the total expenses from the g... View the full answer