During the year, Company B had sales of $3,600,000. The cost of goods sold and depreciation expense were $2,520,000 and $680,000 respectively. The company had a net interest expense of $320,000 and a tax rate of 30%. What is Company B's net income?

During the year, Company B had sales of $3,600,000. The cost of goods sold and depreciation expense were $2,520,000 and $680,000 respectively. The company had a net interest expense of $320,000 and a tax rate of 30%. What is Company B's net income?

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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Calculate net income

During the year, Company B had sales of $3,600,000. The cost of
goods sold and depreciation expense were $2,520,000 and $680,000
respectively. The company had a net interest expense of $320,000
and a tax rate of 30%.
What is Company B's net income?

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