Problemthe good life store has sales of 79600 the cost of, Ask an Expert

Accounting

Problem:

The Good Life Store has sales of $79,600. The cost of goods sold is $48,200 and the other costs are $18,700. Depreciation is $8,300 and is NOT included in other costs. The tax rate is 34 percent.

Required:

Question: What is the net income?

A. $11,204

B. $2,904

C. $8,382

D. $14,660

Note: Please show guided help with steps and answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91169470

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