Draiman, Inc., has sales of $597,000, costs of $261,000, depreciation expense of

ID: 2809776 • Letter: D

Question

Draiman, Inc., has sales of $597,000, costs of $261,000, depreciation expense of $65,000, interest expense of $32,000, and a tax rate of 35 percent. (Enter your answer as directed, but do not round intermediate calculations.)
Required: What is the net income for this firm?
Draiman, Inc., has sales of $597,000, costs of $261,000, depreciation expense of $65,000, interest expense of $32,000, and a tax rate of 35 percent. (Enter your answer as directed, but do not round intermediate calculations.)
Required: What is the net income for this firm?
Draiman, Inc., has sales of $597,000, costs of $261,000, depreciation expense of $65,000, interest expense of $32,000, and a tax rate of 35 percent. (Enter your answer as directed, but do not round intermediate calculations.)
Required: What is the net income for this firm?

Explanation / Answer

Net Income = (Sales - Costs - Depreciation Expense - Interest Expense)*(1-tax rate) = (597,000 -261000 -65000 -32000) * ( 1-35%) = 83650

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Draiman, Inc., has sales of $597,000, costs of $261,000, depreciation expense of

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