Company ABC has net sales of $700,000, a gross profit margin of 40%, operating expenses (not including

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Company ABC has net sales of $700,000, a gross profit margin of 40%, operating expenses (not including depreciation) of $120,000, depreciation expense of $18,000, interest expense of $26,000, taxes of $45,000, and dividends paid of $8,000.

What is ABC's net income?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Jun 12, 2023 08:15 AM

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Company ABC has net sales of $700,000, a gross profit margin of 40%, operating expenses (not including

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To calculate ABCs net income we need to subtract all t... View the full answer

Income Tax Fundamentals 2013

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