Problemtriumph trading company provided the following, Ask an Expert

Accounting

Problem:

Triumph Trading Company provided the following information to its auditors. For the year ended March 31, 2008, the company had revenues of $1,122,878, operating expenses (excluding depreciation and leasing expenses) of $612,663, depreciation expenses of $231,415, leasing expenses of $126,193, and interest expenses equal to $87,125.

Required:

Question: If the company's tax rate was average 34 percent, what is its net income after taxes?

a. $43,218

b. $65,482

c. $152,607

d. none of these

Note: Please show how to work it out.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91170345

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