Calculate Net Income Based on the Following Information

question 21

Multiple Choice

Calculate net income based on the following information. Sales are $250,cost of goods sold is $160,depreciation expense is $35,interest paid is $20,and the tax rate is 34%.

• A) $11.90
• B) $23.10
• C) $35.00
• D) $36.30
• E) $46.20

---

Definitions:

Strikes

Work stoppages caused by the mass refusal of employees to work, aimed at protesting against employers' terms.

Lockouts

An action taken by employers to prevent employees from working during a labor dispute, aimed at pressuring the workers to accept certain conditions.

Taft-Hartley Act

A 1947 federal law in the United States that restricts the activities and power of labor unions, officially known as the Labor Management Relations Act.

Taft-Hartley Act

A 1947 federal law in the United States that restricts the activities and power of labor unions, also known as the Labor Management Relations Act.