Shining Star LLC come Statement for the year ending 31 December 2019 t Sales OMR 25000 st of Goods Sold 7000 Gross Profit 18000 erating Expenses 8000 Operating 10000 ome her Income: terest Income 4000 t Income OMR 14000 he company must pay an income z expense on its profit and the tax e is 30%, determine the Net come after-tax ect one: а. OMR 10000 b. OMR 9800 с. OMR 18200

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following is the income statement
belongs to Shining Star LLC for the year
31 December 2019:
Shining Star LLC
Income Statement for the year ending 31
December 2019
Net Sales
OMR
25000
Cost of Goods Sold
7000
Gross Profit
18000
Operating Expenses
8000
Operating
10000
Income
Other Income:
Interest Income
4000
Net Income
OMR
14000
If the company must pay an income
tax expense on its profit and the tax
rate is 30%, determine the Net
income after-tax
Select one:
O a.
OMR 10000
O b.
OMR 9800
C.
OMR 18200
O d.
OMR 4200
Transcribed Image Text:The following is the income statement belongs to Shining Star LLC for the year 31 December 2019: Shining Star LLC Income Statement for the year ending 31 December 2019 Net Sales OMR 25000 Cost of Goods Sold 7000 Gross Profit 18000 Operating Expenses 8000 Operating 10000 Income Other Income: Interest Income 4000 Net Income OMR 14000 If the company must pay an income tax expense on its profit and the tax rate is 30%, determine the Net income after-tax Select one: O a. OMR 10000 O b. OMR 9800 C. OMR 18200 O d. OMR 4200
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