Gold Jewelry,Inc

question 46

Multiple Choice

Gold Jewelry,Inc.has annual sales of $4.5 million and a gross profit margin of 55 percent.The operating expenses are $540,750 and depreciation is $170,300.Interest expense is $95,000 and the tax rate is 35 percent.What is the net income?

• A)$1,002,980
• B)$1,084,818
• C)$1,356,220
• D)$1,589,200
• E)$2,385,000

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