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Understanding income statement relationships

During the year, cost of goods sold was $50,000; income from operations was $48,000; income tax expense was $9,000; interest expense was $7,000; and selling, general, and administrative expenses were $32,000.

Required:

Calculate net sales, gross profit, income before taxes, and net income.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92753423

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