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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Definitions:

Traditional Review

A conventional method of evaluating work performance, typically conducted annually by managers or supervisors.

Flexible Working Arrangements

Work setups that allow employees flexibility in determining their work hours, location, or schedule to better accommodate personal needs and improve work-life balance.

Telecommuting

Working from a remote location outside of the conventional office space, often from home, using the internet and telecommunications technology.

Compressed Workweeks

A work schedule that allows an employee to work a full number of hours per week in fewer days than the typical five-day workweek.