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Tonga Industries reported the following:

Net Sales $450,000

Cost of goods sold $360,000

Operating expenses $60,000

Tax Rate 40%

The net income is:

A. $180,000.

B. $ 30,000.

C. $ 18,000.

D. $ 12,000

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M9445342

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