-Triumph Trading Company Provided the Following Information to Its Auditors

question 17

Multiple Choice

-Triumph Trading Company provided the following information to its auditors. For the year ended March 31, 2008, the company had revenues of $1,122,878, operating expenses (excluding depreciation and leasing expenses) of $612,663, depreciation expenses of $231,415, leasing expenses of $126,193, and interest expenses of $87,125. If the company's average tax rate was 34 percent, what is its net income after taxes? Round your final answer to the nearest dollar.

• A) $43,218
• B) $65,482
• C) $152,607
• D) None of the above.

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Definitions:

Cash Flows

Cash flows refer to the inflows and outflows of cash and cash equivalents, representing the operating, investing, and financing activities of an entity during a specific period.

Operating Activities

Activities directly related to the business’s primary operations, such as sales, costs, and expenses, impacting the company's cash flow.

Investing Activities

Transactions and events that relate to the acquisition and disposal of long-term assets and other investments not included in cash equivalents, included in a company's cash flow statement.

Investing Activities

Transactions involving the purchase and sale of long-term assets and other investments, part of a company's cash flow statement.