Sunrise Industries has sales of $600,000 and costs of $350,000. Interest expense is $25,000 and depreciation is $60,000. The tax rate is 30%. What is the net income? a. $115,500 b. $100,500 c. $72,000 d. $42,000

Sunrise Industries has sales of $600,000 and costs of $350,000. Interest expense is $25,000 and depreciation is $60,000. The tax rate is 30%. What is the net income? a. $115,500 b. $100,500 c. $72,000 d. $42,000

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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Question

What is the net income of this general accounting question?

Sunrise Industries has sales of $600,000 and costs of
$350,000. Interest expense is $25,000 and depreciation
is $60,000. The tax rate is 30%. What is the net income?
a. $115,500
b. $100,500
c. $72,000
d. $42,000

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