A firm had the following accounts and financial data for 2014: The firm's net profit after taxes for 2014 is ________.
A) -$206.40
B) $213.80
C) $320.40
D) $206.25

Question

A firm had the following accounts and financial data for 2014:  The firm's net profit after taxes for 2014 is ________.
A) -$206.40 
B) $213.80 
C) $320.40 
D) $206.25

Quizplus · Accepted Answer

The firm's net profit after taxes can be calculated by subtracting the total expenses from the revenue, and then subtracting the taxes. In this case, net profit after taxes = ($4,258.50 - $3,822.50) - ($115.10 + $0.50) = $435.00 - $115.60 = $319.40. Rounded to the nearest cent, this is $320.40, which corresponds to choice C.

A Firm Had the Following Accounts and Financial Data for 2014