Pinakin Inc. has sales of $680,000 and costs of $305,000. Interest expense is $25,000 and depreciation is $53,000. The tax rate is 37%. What is the net income? 1) $192,400 2) $184,500 3) $179,600 4) $160,400 5) $187,110

Pinakin Inc. has sales of $680,000 and costs of $305,000. Interest expense is $25,000 and depreciation is $53,000. The tax rate is 37%. What is the net income? 1) $192,400 2) $184,500 3) $179,600 4) $160,400 5) $187,110

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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Question

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Pinakin Inc. has sales of $680,000 and costs of
$305,000. Interest expense is $25,000 and
depreciation is $53,000. The tax rate is 37%. What is
the net income?
1)
$192,400
2) $184,500
3) $179,600
4) $160,400
5) $187,110

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