Answered: State Farm Insurance, has sales of…

State Farm Insurance, has sales of $817,000, costs of $343,000, depreciation expense of $51,000, interest expense of $38,000, and a tax rate of 35 percent. What is the net income for this firm?

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 11P: The Berndt Corporation expects to have sales of 12 million. Costs other than depreciation are...

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What is the net income for this firm on the general accounting question?

State Farm Insurance, has sales of $817,000, costs of $343,000,
depreciation expense of $51,000, interest expense of $38,000,
and a tax rate of 35 percent.
What is the net income for this firm?

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