Based on ABC Corp's annual Income Statements ended on December 31, 2022, the company has sales...

 

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Based on ABC Corp's annual Income Statements ended on December 31, 2022, the company has sales of $1,877,000, costs of goods sold of $1,105,000, and SGA expenses of $134,000. The depreciation expense is $138,000. Interest paid equals $20,000. The tax rate is 35 percent. 1. (8 points) What is the net income of the company? Based on ABC Corp's annual Income Statements ended on December 31, 2022, the company has sales of $1,877,000, costs of goods sold of $1,105,000, and SGA expenses of $134,000. The depreciation expense is $138,000. Interest paid equals $20,000. The tax rate is 35 percent. 1. (8 points) What is the net income of the company?