XYZ Company has the following information for the year ended December 31, 2022: Revenue - $100,000 Cost of Goods Sold - $50,000 Operating Expenses - $20,000 Interest Expense - $5,000 Income Tax Expense - $10,000 Dividends Paid - $8,000 Calculate the net profit for the year ended December 31, 2022.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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XYZ Company has the following information for the year ended December 31, 2022:

Revenue - $100,000

Cost of Goods Sold - $50,000

Operating Expenses - $20,000

Interest Expense - $5,000

Income Tax Expense - $10,000

Dividends Paid - $8,000

Calculate the net profit for the year ended December 31, 2022.

 

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