Last year, Conn Limited had Sales of $45,200 Interest expense of $3,485 Cost of goods sold...

 

Transcribed Image Text:

Last year, Conn Limited had Sales of $45,200 Interest expense of $3,485 Cost of goods sold of $15,700 Selling and administrative expense of $10,185 and Depreciation of $3,555 If the tax rate was 25%, what was the company's net income last year? Last year, Conn Limited had Sales of $45,200 Interest expense of $3,485 Cost of goods sold of $15,700 Selling and administrative expense of $10,185 and Depreciation of $3,555 If the tax rate was 25%, what was the company's net income last year?

Answer rating: 100% (QA)

To calculate the companys net income you can use the following formula Net Income Sales ... View the full answer