XYZ Company had the following information for the year 2022: Net sales revenue: $1,000,000 Cost of goods
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Question:
XYZ Company had the following information for the year 2022:
- Net sales revenue: $1,000,000
- Cost of goods sold: $500,000
- Gross profit margin: 50%
- Operating expenses: $300,000
- Interest expense: $20,000
- Income tax rate: 30%
Calculate the net income for the year 2022.
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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