Calculate Net Income Given the Following Information: Tax Rate =

question 31

Multiple Choice

Calculate net income given the following information: tax rate = 30%; accounts receivable = $900; receivable turnover = 5 times; inventory = $500; inventory turnover = 3.20 times; operating expenses = $700; interest expense = $200.

• A) $1,400
• B) $1,465
• C) $1,565
• D) $1,665
• E) $1,765

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