Suppose Ningbo Steel has sales revenue of $11,000 sales revenue, cost of goods sold off $5000, operating expenses of $1000, a tax rate of 20%, and 1,000 shares of common stock outstanding. Based on this information, what was the net profit after tax?
Suppose Ningbo Steel has sales revenue of $11,000 sales revenue, cost of goods sold off $5000, operating expenses of $1000, a tax rate of 20%, and 1,000 shares of common stock outstanding. Based on this information, what was the net profit after tax?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...
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Suppose Ningbo Steel has sales revenue of $11,000 sales revenue, cost of goods sold off $5000, operating expenses of $1000, a tax rate of 20%, and 1,000 shares of common stock outstanding. Based on this information, what was the net profit after tax?
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