The following data relate to Crystal Chemical Corporation for the year ended December 31, 2013 (amounts in millions of euros):

  

      

  

The company incurred manufacturing costs (direct material, direct labor, and manufacturing overhead) during the year totaling €28,044. Sales revenue was €32,632, marketing and administrative expenses were €2,436, and interest expenses were €828. The income tax rate is 35%. Compute net income for the year.
 

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December December 31, 2013 31, 2012 Raw Materials Inventory.. € 373 € 452 Work-in-Process Inventory 837 843 Finished Goods Inventory.. 2,396 2,523 December December 31, 2013 31, 2012 Raw Materials Inventory.. € 373 € 452 Work-in-Process Inventory 837 843 Finished Goods Inventory.. 2,396 2,523

Answer rating: 100% (QA)

Computation of net income Net income The net income is the ... View the full answer