Weston Inc. had sales of $150,000 of sales, $75,000 of operating costs, and $10,000 of depreciation....
Weston Inc. had sales of $150,000 of sales, $75,000 of operating costs, and $10,000 of depreciation. The company borrowed long term $17,000 at a 7.0% interest rate, and its total tax rate was 35%. How much was the firm's net income?
|
$35,167.33 |
||
|
$37,018.24 |
||
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$38,966.57 |
||
|
$41,476.50 |
||
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$43,068.31 |
Homework Answers
Interest =Loan*Interest Rate =17000*7% =1190
Net Income =(Sales-Operating Costs-Depreciation-Interest)*(1-Tax
Rate)=(150000-75000-10000-1190)*(1-35%) =41476.50
Option d is correct option
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