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Parkway Retailers had sales of $925,000, cost of goods sold of $360,000, depreciation expense of $62,000, interest expense of $45,000, and a tax rate of 30%. What is the net income?

Parkway Retailers had sales of $925,000, cost of goods sold of $360,000, depreciation expense of $62,000, interest expense of $45,000, and a tax rate of 30%. What is the net income?

Intermediate Accounting: Reporting And Analysis
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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Parkway Retailers had sales of $925,000, cost of goods sold of $360,000, depreciation expense of $62,000, interest expense of $45,000, and a tax rate of 30%. What is the net income?
Transcribed Image Text:Parkway Retailers had sales of $925,000, cost of goods sold of $360,000, depreciation expense of $62,000, interest expense of $45,000, and a tax rate of 30%. What is the net income?
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