Pharrell, inc., has sales of $586,000, costs of $272,000, depreciation expense of $70,500, interest expense of $37,500, and a tax rate of 40 percent. what is the net income for this firm? (do not round intermediate calculations and round your answer to the nearest whole number, e. g., 32.)

Net income for this firm = $123,600

Explanation:

Given that,

Sales = $586,000

Costs = $272,000

Depreciation expense = $70,500

Interest expense = $37,500

Tax rate = 40 percent

Pre tax income = Sales - costs - Depreciation expense - Interest expense

                         = $586,000 - $272,000 -  $70,500 - $37,500

                         = $206,000

After tax income = Pre tax income × (1 - Tax rate)

                            = $206,000 × (1 - 0.4)

                            = $206,000 × 0.6

                            = $123,600

Therefore,

Net income for this firm = $123,600

hi i’m a student too and i’ve had this app downalodes for a few weeks people do answer it you just gotta be patient and what is your question + subject i’ll you?

answer; career pathways;