The Good Life Store has sales of $79,600.The cost of goods sold is $48,200 and the other costs are $18,700.Depreciation is $8,300 and the tax rate is 34 percent.What is the net income?

Name: The Good Life Store has sales of $79,600.The cost of goods sold is $48,200 and the other costs are $18,700.Depreciation is $8,300 and the tax rate is 34 percent.What is the net income?
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Question

Quizplus · Accepted Answer

Net income = ($79,600 - $48,200 - $18,700 - $8,300)(1 - 0.34) = $2,904

The Good Life Store Has Sales of $79,600