Medical Supplies Inc., had sales of $120,000 with a cost of goods sold equal to 45% of sales. In addition, Medical Supplies Inc., had total other operating expenses of $50,000 with an interest expense of $20,000. If Medical Supplies Inc., pays a flat 30% of its pre-tax income in income taxes, 

What is the company’s net income?

Answer rating: 100% (QA)

First lets calculate the cost of goods sold COGS COGS 45 x 120000 54000 Next lets ... View the full answer