A company reported a sale revenue for $700,000. The gross profit margin is 60% and the selling expenses are 10% of the sales revenue. The general and administrative expenses are $77,000 and the income...

A company reported a sale revenue for $700,000. The gross profit margin is 60% and the<br>selling expenses are 10% of the sales revenue. The general and administrative expenses are<br>$77,000 and the income tax rate for the current year is 25%. Compute the net income.<br>a. $99,750<br>b. $204,750<br>c. $273,000<br>d. $262,500<br>

Extracted text: A company reported a sale revenue for $700,000. The gross profit margin is 60% and the selling expenses are 10% of the sales revenue. The general and administrative expenses are $77,000 and the income tax rate for the current year is 25%. Compute the net income. a. $99,750 b. $204,750 c. $273,000 d. $262,500

Jun 10, 2022

SOLUTION.PDF

A company reported a sale revenue for $700,000. The gross profit margin is 60% and the selling expenses are 10% of the sales revenue. The general and administrative expenses are $77,000 and the income...

Get Answer To This Question

Related Questions & Answers

Submit New Assignment