Question
ABC Company has the following information for the year ended December 31, 2022: - Sales revenue of $500,000 - Cost of goods sold of $200,000
ABC Company has the following information for the year ended December 31, 2022:
- Sales revenue of $500,000
- Cost of goods sold of $200,000
- Operating expenses of $100,000
- Interest expense of $10,000
- Income tax rate of 30%
Calculate ABC Company's net income for the year ended December 31, 2022.
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Horngrens Financial and Managerial Accounting
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
5th edition
9780133851281, 013385129x, 9780134077321, 133866297, 133851281, 9780133851298, 134077326, 978-0133866292
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