Answered: Posh Inc. has sales of $500,000 and… | bartleby

Intermediate Financial Management (MindTap Course List)

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 3P

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Question

What is the net income?

Posh Inc. has sales of $500,000 and costs of
$300,000. Interest expense is $20,000 and
depreciation is $50,000. The tax rate is 35%.
What is the net income?
a. $50,400
b. $84,500
c. $39,600
d. $20,400

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