Using the information provided, calculate net income for 2013. Assume a tax rate of 35 percent
Year 2013
Inventory $5,000
Revenues 200,000
Depreciation expense 5,000
Cost of goods sold 100,000
Interest expense 10,000
Operating expenses 30,000
A) $35,750
B) $44,000
C) $50,000
D) $19,250
Answer: A
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