Calculate Net Income Based on the Following Information

question 33

Multiple Choice

Calculate net income based on the following information. Sales = $250.00
Cost of goods sold = $160.00
Depreciation = $35.00
Interest paid = $20.00
Tax rate = 34%

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

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Definitions:

Hearsay

Evidence that is heard by one person and then repeated to another.

Anecdotal Evidence

Evidence based on personal testimonies.

Testimony

A formal written or spoken statement, especially one given in a court of law.

Experience

The knowledge or skill acquired by a person through direct involvement in or exposure to events or activities over time.