Question: For the year ended December 31, 2023, PQR Ltd. provides the following information: Item Amount ($) Sales Revenue 300,000 Cost of Goods Sold 150,000 Operating

For the year ended December 31, 2023, PQR Ltd. provides the following information:

Item

Amount ($)

Sales Revenue

300,000

Cost of Goods Sold

150,000

Operating Expenses

80,000

Interest Expense

10,000

Tax Rate

30%

Required:

  • Prepare an income statement for PQR Ltd. for the year ended December 31, 2023.
  • Calculate the net income after taxes.

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