4 Use the following to calculate pretax income (IBT): $ 5,000 Sales revenue 4,000 Cost of goods sold 14,000 Salaries expense Interest revenue 300,000 Income tax expense 175,000 85,000 6,000 Selling expenses Utilities expense 5,000 Rent expense
4 Use the following to calculate pretax income (IBT): $ 5,000 Sales revenue 4,000 Cost of goods sold 14,000 Salaries expense Interest revenue 300,000 Income tax expense 175,000 85,000 6,000 Selling expenses Utilities expense 5,000 Rent expense
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What the answer for 4 because it’s not 26,000 or 20,000
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