Blue Ocean Corp. had total sales of $32,750,000 for the year. Expenses included cost of goods sold of $19,650,000, SG&A expenses of $3,225,000, depreciation and amortization of $1,875,000, and interest expense of $1,125,000. Calculate net income after tax using a 34% tax rate.

Blue Ocean Corp. had total sales of $32,750,000 for the year. Expenses included cost of goods sold of $19,650,000, SG&A expenses of $3,225,000, depreciation and amortization of $1,875,000, and interest expense of $1,125,000. Calculate net income after tax using a 34% tax rate.

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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Blue Ocean Corp. had total sales of $32,750,000 for the year.
Expenses included cost of goods sold of $19,650,000, SG&A expenses
of $3,225,000, depreciation and amortization of $1,875,000, and
interest expense of $1,125,000. Calculate net income after tax using
a 34% tax rate.

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