You are given the following financial information for Company X:

• Current assets = $500,000
• Current liabilities = $200,000
• Total assets = $1,000,000
• Total liabilities = $400,000
• Sales revenue = $2,000,000
• Cost of goods sold = $1,200,000
• Operating expenses = $400,000
• Interest expense = $50,000
• Income tax rate = 30%

What is the net income of Company X?

Answer rating: 100% (QA)

The detailed answer for the above question is provided below We can use the incom... View the full answer