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scoray [572]
3 years ago
12

he following data are to be used for Questions 4 and 5. The parentheses indicate amounts that should be subtracted in the comput

ation of net income. Cost of goods sold (6,000) Income tax expense (600) Interest expense (250) Operating, selling, general and administrative expenses (2,300) Sales 10,000 What is the company’s income tax RATE?
Business
1 answer:
ivann1987 [24]3 years ago
5 0

Answer:

t= 0.4138

Explanation:

First, we need to accommodate the information:

Sales= 10,000

COGS= 6000 (-)

Gross profit= 4000

Operating, selling, general and administrative expenses= 2300 (-)

Net operating income= 1700

Interest= 250 (-)

Earnings before taxes= 1450

TAX= 600 (-)

Net income= 850

t= ?

t= 600/1450= 0.4138

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