For the past year, Momsen, Ltd., had sales of $46,577, interest expense of $3,932, cost of goods

Fantastic news! We've Found the answer you've been seeking!

Question:

For the past year, Momsen, Ltd., had sales of $46,577, interest expense of $3,932, cost of goods sold of $16,834, selling and administrative expense of $12,431, and depreciation of $7,430. If the tax rate was 38 percent, what was the company's net income?