Simplex Healthcare Had Net Income of $5,411,623 After Paying Taxes

question 76

Multiple Choice

Simplex Healthcare had net income of $5,411,623 after paying taxes at 34 percent. The firm had revenues of $20,433,770. Their interest expense for the year was $1,122,376, while depreciation expense was $2,079,112. What was the firm's operating expenses excluding depreciation?

• A) $8,199,429
• B) $9,032,853
• C) $9,321,805
• D) none of the above

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Definitions:

Liability

Legal responsibility for actions or inactions that cause harm or loss to another party, often leading to the obligation to compensate for damages.

Defensive Conditions

Provisions or measures put in place to protect a party from unfair or harmful situations or actions, often found in contracts or negotiations.

Misrepresentations

False or misleading statements that may lead someone to enter into a contract or make a decision under false beliefs, potentially with legal consequences.

Actual And Apparent Authority

Actual authority refers to the power a principal intentionally gives to an agent to act on the principal's behalf, while apparent authority exists when the principal's actions lead a third party to believe that an agent has certain powers, even if such powers have not been explicitly granted.