Bruto's sales for year 2014 were $74,889. For that year, the cost of sales without depreciation was 78% of the value of sales and depreciation was 7.333% of the value of sales. Calculate the Net Income of Bruto, assuming that the income tax for the company is 35% and that they are projecting an increase in sales of 10%, with an interest expense of $306.

Bruto's sales for year 2014 were $74,889. For that year, the cost of sales without depreciation was 78% of the value of sales and depreciation was 7.333% of the value of sales. Calculate the Net Income of Bruto, assuming that the income tax for the company is 35% and that they are projecting an increase in sales of 10%, with an interest expense of $306.

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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Need detailed help with the proforma income statement