The following financial information was summarized from the accounting records of Train Corporation for the current...
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The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Locomotive Corporate Division Division Total $47,200 $30,720 Cost of goods sold Direct operating expenses 27,200 20,040 Net sales 98,000 68,000 Interest expense $ 5,040 Corporate overhead Income tax 18,160 4,700 The net income for Train Corporation is: $20,640 $12,940 $22,680 $15,940 The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Locomotive Corporate Division Division Total $47,200 $30,720 Cost of goods sold Direct operating expenses 27,200 20,040 Net sales 98,000 68,000 Interest expense $ 5,040 Corporate overhead Income tax 18,160 4,700 The net income for Train Corporation is: $20,640 $12,940 $22,680 $15,940
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Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
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