Sales = $1,000; Cost of Goods Sold = $500; Depreciation Expense = $100; Administrative Expenses = $100; Interest Expense = $20; Marketing Expenses = $80; and Taxes = $100. The Co's net income is equal to A) $100. B) $150. C) $220. D) $200.
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Sales = $1,000; Cost of Goods Sold = $500;
- A) $100.
- B) $150.
- C) $220.
- D) $200.
To compute net income, we have to first calculate gross profit which is calculated below:-
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- Sales = $1,000; Cost of Goods Sold = $500; Depreciation Expense = $100; Administrative Expenses = $100; Interest Expense = $20; Marketing Expenses = $80; and Taxes = $100. The Co's operating income (EBIT) is equal to A) $500. B) $400. C) $310. D) $220.USA Inc. had gross sales of $925,000. The cost of goods sold and selling expenses were $490,00 and $220, 000 respectively. International also had notes payable with an interest of 4%. Depreciation was $120,000. The tax rate at the time was 21%. a. What is the company's net income? Show work and briefly discuss. b.What is the company's operating cash flow? Show work and briefly discuss.XYZ Company has the following information for the year ended December 31, 2022: Revenue - $100,000 Cost of Goods Sold - $50,000 Operating Expenses - $20,000 Interest Expense - $5,000 Income Tax Expense - $10,000 Dividends Paid - $8,000 Calculate the net profit for the year ended December 31, 2022.