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 is calculated as:
Net Sales - Cost of Goods Sold - Selling Expenses - Administrative Expenses - Taxes
= $5,410 - $3,940 - $640 - $465 - 145
= $320.40

A Firm Had the Following Accounts and Financial Data for 2005