Calculate Net Income Given the Following Information: Tax Rate =

question 61

Multiple Choice

Calculate net income given the following information: tax rate = 30%; accounts receivable = $15,000; receivable turnover = 6 times; inventory = $4,000; inventory turnover = 6.25 times; operating expenses = $15,000; interest expense = $9,000.

• A) $29,700
• B) $28,700
• C) $27,700
• D) $26,700
• E) $25,700

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Definitions:

CBT

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