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  • Net Income: Sales

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    Hanny Kee
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    The company had sales of $220,000 and cost of goods sold of $180,000 resulting in a gross profit of $40,000. Total operating expenses were $24,000 leaving income from operations of $16,000. After deducting $2,000 of interest expense, income before taxes was $14,000. Taking into account $4,000 of income tax expense, the company's net income was $10,000.

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    The company had sales of $220,000 and cost of goods sold of $180,000 resulting in a gross profit of $40,000. Total operating expenses were $24,000 leaving income from operations of $16,000. After deducting $2,000 of interest expense, income before taxes was $14,000. Taking into account $4,000 of income tax expense, the company's net income was $10,000.

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    20 Ansichten1 Seite

    Net Income: Sales

    Hochgeladen von

    Hanny Kee
    The company had sales of $220,000 and cost of goods sold of $180,000 resulting in a gross profit of $40,000. Total operating expenses were $24,000 leaving income from operations of $16,000. After deducting $2,000 of interest expense, income before taxes was $14,000. Taking into account $4,000 of income tax expense, the company's net income was $10,000.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Als DOCX, PDF, TXT herunterladen oder online auf Scribd lesen
    Markieren Sie unangemessene Inhalte
    von 1

    Sales $ 220,000

    Cost of goods sold 180,000


    Gross profit 40,000
    Selling expenses $ 14,000
    Administrative expenses 10,000 24,000
    Income from operations 16,000
    Interest expense 2,000
    Income before income taxes 14,000
    Income tax expense 4,000
    Net income $ 10,000

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