Your firm has the following income statement items: sales of $50,250,000; income tax of $1,744,000; operating expenses of $10,115,000; cost of goods sold of $35,025,000; and interest expense of $750,000. What is the amount of the firm's income before tax?

A) $4,360,000
B) $750,000
C) $10,865,000
D) $25,115,000


Answer: A

Business

You might also like to view...

In modeling online consumer behavior, the concept of "consumer skills" refers to the:

A. education level of the consumer. B. communication skills of the consumer. C. knowledge consumers have about how to conduct online transactions. D. product evaluation skills of the consumer.

Business

The entry to record the purchase of treasury stock will cause total stockholders' equity to decrease by the amount of the cost of the treasury shares

Indicate whether the statement is true or false

Business

Which type of product is a basic or necessary item that is available almost everywhere?

A) emergency product B) staple C) impulse product D) shopping product E) unsought product

Business

Answer the following statements true (T) or false (F)

1. With the advent of new technology, written reports are being phased out. 2. The groundwork or preliminary effort a report writer makes before the report is written often takes more time than actually writing the report. 3. Most of the data needed for business reports are primary data. 4. Formality and frequency are two elements by which reports can be classified.

Business