Question

Marcie's has sales of $179,600, depreciation of $14,900, costs of goods sold of $138,200, and other costs of $28,400. The tax rate is 35 percent. What is the net income? a. -$1,235 b. $14,660 c. $382 d. $1,204 e. $13,665

          Marcie's has sales of $179,600, depreciation of $14,900, costs of goods sold of $138,200, and other costs of $28,400. The tax rate is 35 percent. What is the net income?
a. -$1,235
b. $14,660
c. $382
d. $1,204
e. $13,665

Added by Christopher A.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

Instant Answer

Solved by Expert Azat Nurmukhametov

05/23/2022

Step 1

Step 1: Calculate the gross profit Gross Profit = Sales - Cost of Goods Sold Gross Profit = $179,600 - $138,200 Gross Profit = $41,400 Show more…

Show all steps

Thanks for your feedback!

Marcie's has sales of $179,600, depreciation of $14,900, costs of goods sold of $138,200, and other costs of $28,400. The tax rate is 35 percent. What is the net income? a. -$1,235 b. $14,660 c. $382 d. $1,204 e. $13,665 Marcie's has sales of $179,600,depreciation of $14,900,costs of goods sold of $138,200,and other costs of $28,400.The tax rate is 35 percent.What is the net income? a.-$1,235 b. $14,660 c.$382 d.s $1,204 e.$13,665