Using the information provided, calculate net income for 2002. Assume a tax rate of 40 percent.
Inventory $5,000
Sales $200,000
Depreciation expense $5,000
Cost of goods sold $100,000
Interest expense $10,000
Operating expenses $30,000
|
a. |
$33,000 |
|
b. |
$44,000 |
|
c. |
$55,000 |
|
d. |
