The following is the income statementbelongs to Shining Star LLC for the year31 December 2019:Shining Star LLCIncome Statement for the year ending 31December 2019Net SalesOMR25000Cost of Goods Sold7000Gross Profit18000Operating Expenses8000Operating10000IncomeOther Income:Interest Income4000Net IncomeOMR14000If the company must pay an incometax expense on its profit and the taxrate is 30%, determine the Netincome after-taxSelect one:O a.OMR 10000O b.OMR 9800C.OMR 18200O d.OMR 4200

Formulas: Net Income after tax = Net income before tax - Tax expenses Tax Expense = Net Income x…

Shining Star LLC come Statement for the year ending 31 December 2019 t Sales OMR 25000 st of Goods Sold 7000 Gross Profit 18000 erating Expenses 8000 Operating 10000 ome her Income: terest Income 4000 t Income OMR 14000 he company must pay an income z expense on its profit and the tax e is 30%, determine the Net come after-tax ect one: а. OMR 10000 b. OMR 9800 с. OMR 18200

Shining Star LLC come Statement for the year ending 31 December 2019 t Sales OMR 25000 st of Goods Sold 7000 Gross Profit 18000 erating Expenses 8000 Operating 10000 ome her Income: terest Income 4000 t Income OMR 14000 he company must pay an income z expense on its profit and the tax e is 30%, determine the Net come after-tax ect one: а. OMR 10000 b. OMR 9800 с. OMR 18200

Financial Management: Theory & Practice

16th Edition

ISBN:9781337909730

Author:Brigham

Publisher:Brigham

Chapter2: Financial Statements, Cash Flow,and Taxes

Section: Chapter Questions

Problem 15P: Use the following income statement of Elliott Game Theory Consulting to determine its net operating...

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