5. Hanin Inc. recently reported $350,000 of sales, $75,500 of operating 4 points costs other than...

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5. Hanin Inc. recently reported $350,000 of sales, $75,500 of operating 4 points costs other than depreciation, and $10,200 of depreciation. The company had $16,500 of outstanding bonds that carry a 7.25% interest rate, and its federal-plus-state income tax rate was 35%. How much was the firm's net income? The firm uses the same depreciation expense for tax and stockholder reporting purposes. * $35,167.33 O $171,017.44 O $137,018.24 $38,966.57 None of the above 5. Hanin Inc. recently reported $350,000 of sales, $75,500 of operating 4 points costs other than depreciation, and $10,200 of depreciation. The company had $16,500 of outstanding bonds that carry a 7.25% interest rate, and its federal-plus-state income tax rate was 35%. How much was the firm's net income? The firm uses the same depreciation expense for tax and stockholder reporting purposes. * $35,167.33 O $171,017.44 O $137,018.24 $38,966.57 None of the above

Answer rating: 100% (QA)

Sales 350000 Operating costs 75500 Depreciation 10200 Par value of bonds 16500 Interes... View the full answer