Belmont, Inc., has annual sales of $3.2 million and a gross profit margin of 65%. The operating expenses are $478,000 and depreciation is $150,900. Interest expense is $60,000 and the tax rate is 21%. What is the net income?
A) $258,660
B) $834,660
C) $927,980
D) $1,098,969
E) $1,385,000
Correct Answer:
Verified
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