Calculate Net Income Given the Following Information: Tax Rate =

question 170

Multiple Choice

Calculate net income given the following information: tax rate = 30%; times interest earned = 21 times; sales = $2,000; cost of goods sold = $800; general and administrative expenses = $150.

• A) $850
• B) $800
• C) $750
• D) $700
• E) $650

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Definitions:

Chromosomes

Long strands of DNA wound around proteins, located in the cell nucleus, carrying genetic information.

Genotype

Genetic makeup of an individual.

Phenotype

Characteristic observed in an individual due to the expression of his or her genotype.

Progeria

Severe retardation of growth after the first year accompanied by a senile appearance and death at an early age.