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Pravya Corp. has sales of $720,000 and costs of $345,000. Interest expense is $29,000 and depreciation is $61,000. The tax rate is 35%. What is the net income? 1. $180,150 2. $175,300 3. $181,750 4. $172,600 5. $185,250

Pravya Corp. has sales of $720,000 and costs of $345,000. Interest expense is $29,000 and depreciation is $61,000. The tax rate is 35%. What is the net income? 1. $180,150 2. $175,300 3. $181,750 4. $172,600 5. $185,250

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 4P: Talbot Enterprises recently reported an EBITDA of $8 million and net income of $2.4 million. It had...
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Please provide the solution to this financial accounting question with accurate financial calculations.

Pravya Corp. has sales of $720,000 and costs of $345,000. Interest expense is $29,000 and depreciation is $61,000. The tax rate is 35%. What is the net income? 1. $180,150 2. $175,300 3. $181,750 4. $172,600 5. $185,250
Transcribed Image Text:Pravya Corp. has sales of $720,000 and costs of $345,000. Interest expense is $29,000 and depreciation is $61,000. The tax rate is 35%. What is the net income? 1. $180,150 2. $175,300 3. $181,750 4. $172,600 5. $185,250
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