Calculate Net Income Based on the Following Information: Sales Are

question 90

Multiple Choice

Calculate net income based on the following information: sales are $300; cost of goods sold is $150,depreciation expense is $60,interest paid is $30,and the tax rate is 40%.

• A)$36.00
• B)$38.50
• C)$40.50
• D)$56.80
• E)$60.00

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