A firm had the following accounts and financial data for 2019: The firm's net profit after taxes for 2019 is ________.

Question

A firm had the following accounts and financial data for 2019:  The firm's net profit after taxes for 2019 is ________.

Quizplus · Accepted Answer

To calculate the net profit after taxes, we need to use the formula:
Net profit after taxes = Gross profit - Operating expenses - Interest expense - Taxes

From the given financial data, we can calculate:
Gross profit = 2900.00
Operating expenses = 1964.00
Interest expense = 73.25
Taxes = 542.35

Substituting the values in the formula, we get:
Net profit after taxes = 2900.00 - 1964.00 - 73.25 - 542.35 = 320.40

Therefore, the correct answer is C.

A Firm Had the Following Accounts and Financial Data for 2019