Question: using the table how would you calculate net income Sadie's Company has the following information for last year: Raw Material Purchase $ 500,000 Indirect Factory
Sadie's Company has the following information for last year: Raw Material Purchase $ 500,000 Indirect Factory Labor $56,000 Direct Labor $ 250,000 Administrative Salaries $ 155,000 Depreciation on Factory Equipment $ 58,000 Sales Office Salaries $ 120,000 Depreciation on Factory Building $ 80,000 Beginning Balance, Raw Material $ 90,000 Depreciation on Office Building $59.000 Beginning Balance, WIP S 185,000 Factory insurance $ 65,000 Beginning Balance, Finished $ 85,000 Goods Property taxes on Factory $ 60,000 Ending Balance, Raw Materials $ 75,000 Property taxes on Office $35.000 Ending Balance, WIP $ 210,000 Utilities for Factory $ 60,000 Ending Balance, Finished Goods $ 50,000 Utilities for Office $3.500 Advertising Expense 24000 Sadie completed 230,000 units which were sold at a price of $8. Sadie paid a sales commission of 5% of sales. REQUIRED Calculate Net Income
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