Scantron Test Sheet 95946 21. During The Year, Kumho Tire Compasy Had Gross Sale Of S1,200,000. The Costs Of Goods Sold And Selling Expenses Were 5500,000 And $200,000, Respectively. Kumho Alos Had Notes Payable Of $70.000 With An Annual Increst Of 5% Depreciation Was $120,000. The Firm's Tax Rate Is 30%, What Is The Net Income For The Company? 

A. $221,456

B. $241,500

C. $200,000

D. $280,000

E. $186,000 

Answer rating: 100% (QA)

Sales 1200000 cost of goods sold 500000 sellin... View the full answer