Nataro, Incorporated, has sales of $742,000, costs of $316,000, depreciation expense of $39,000, interest expense of $34,000, an

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2 years ago

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d a tax rate of 21 percent. What is the net income for this firm

1 answer:

LenaWriter [7] · Answer 1 · 2022-10-17T20:46:19+03:00

Based on the information given the net income is $278,870.

<h3>Net income </h3>

Sales $742,000

Less Costs ($316,000)

Les Depreciation ($39,000)

EBIT $387,000

Less Interest ($34,000)

Taxable Inc. $353,000

Taxes (21%) $74,130

($353000×21%)

Net Income $278,870

($353,000-$74,130)

Inconclusion the net income is $278,870.

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