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The following information is available from the accounting records of Manahan Company for the year ended December 31, 2022: Net cash provided by financing activities $ 110,000 Dividends paid 19,500 Loss from discontinued operations, net of tax savings of $36,033 108,100 Income tax expense 26,592 Other selling expenses 13,500 Net sales 643,900 Advertising expense 46, 100 Accounts receivable 52,700 Cost of goods sold 367,023 General and administrative expenses 141,300 Required: Calculate the company's net income for 2022.

The following information is available from the accounting records of Manahan Company for the year ended December 31, 2022: Net cash provided by financing activities $ 110,000 Dividends paid 19,500 Loss from discontinued operations, net of tax savings of $36,033 108,100 Income tax expense 26,592 Other selling expenses 13,500 Net sales 643,900 Advertising expense 46, 100 Accounts receivable 52,700 Cost of goods sold 367,023 General and administrative expenses 141,300 Required: Calculate the company's net income for 2022.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information is available from the accounting records of Manahan Company for the year ended December 31, 2022: Net cash provided by financing activities $ 110,000 Dividends paid 19,500 Loss from discontinued operations, net of tax savings of $36,033 108,100 Income tax expense 26,592 Other selling expenses 13,500 Net sales 643,900 Advertising expense 46, 100 Accounts receivable 52,700 Cost of goods sold 367,023 General and administrative expenses 141,300 Required: Calculate the company's net income for 2022.
Transcribed Image Text:The following information is available from the accounting records of Manahan Company for the year ended December 31, 2022: Net cash provided by financing activities $ 110,000 Dividends paid 19,500 Loss from discontinued operations, net of tax savings of $36,033 108,100 Income tax expense 26,592 Other selling expenses 13,500 Net sales 643,900 Advertising expense 46, 100 Accounts receivable 52,700 Cost of goods sold 367,023 General and administrative expenses 141,300 Required: Calculate the company's net income for 2022.
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