A firm had the following accounts and financial data for 2005. The firm's net profit after taxes for 2005 was ________.
A) -$206.40
B) $213.80
C) $320.40
D) $206.25

Question

A firm had the following accounts and financial data for 2005.  The firm's net profit after taxes for 2005 was ________.
A) -$206.40 
B) $213.80 
C) $320.40 
D) $206.25

Quizplus · Accepted Answer

Net profit after taxes can be calculated as follows:

Net profit after taxes = Gross profit - Operating expenses - Interest expense - Taxes

= $2,167.50 - $1,782.70 - $80.40 - $984.00

= $320.40

Therefore, the net profit after taxes for 2005 was $320.40.

A Firm Had the Following Accounts and Financial Data for 2005