AccentJewelry,Inc.has annual sales of $4.8 million and a gross profit margin of 55 percent.The operating expenses are $510,550 and depreciation is $160,250.Interest expense is $80,000 and the tax rate is 35 percent.What is the net income?
A) $1,002,980
B) $1,084,818
C) $1,227,980
D) $1,589,200
E) $2,385,000
Correct Answer:
Verified
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