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1. Brinkmans General Store had the following transactions during the current year: $500,000 Sales generated for the year on

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Answer #1

rate positively ..

Computation of net income
Sales 500000
Less expenses
Interst 5000
Depreciation 10000
Operating expenses 50000
Cost of inventory sold 375000
total expenses 440000
Earning before tax 60000
Tax @ 40% 24000
Net income 36000
Therefore answer = 36000
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