Henson Pharmaceuticals reported net income for 2018 of $4.8 million on total revenues of $44 million....

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Henson Pharmaceuticals reported net income for 2018 of $4.8 million on total revenues of $44 million....

Henson Pharmaceuticals reported net income for 2018 of $4.8 million on total revenues of $44 million. Depreciation expense totaled $930,000.

What were total expenses for 2018?

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Answer 1

Answer #1

Revenues - expenses - depreciation expense = Net income

Given.

Revenues = $44,000,000

Net income = $$4,800,000

Depreciation Expense = $930,000

Expenses = Revenues - Depreciation expense - Net income

Expenses = $44,000,000 - $930,000 - $4,800,000

Expenses = $38,270,000

Total expenses for 2018 excluding depreciation = $38,270,000

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Answer 2

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Henson Pharmaceuticals reported net income for 2018 of $4.8 million on total revenues of $44 million....

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