Homework Answers
Answer: 4th option
Gross profit = Sales – Cost of goods sold
= 16.650,000 – 9,990,000
= 6,660,000
Net income before tax = Gross profit – (Depreciation + Interest + Selling)
= 6,660,000 – (832,500 + 825,000 + 1,665,000)
= 6,660,000 – 3,322,500
= 3,337,500
Net income after tax = Net income before tax × (1 – tax rate
= 3,337,500 × (1 – 0.34)
= 3,337,500 × 0.66
= 2,202,750
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