Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 20. fashion retailers, inc.s income statement for

20. Fashion Retailers, Inc.s income statement for the year ended December 31, 20X8 included the...

50.1K

Verified Solution

Question

Accounting

20. Fashion Retailers, Inc.s income statement for the year ended December 31, 20X8 included the following accounts:

Sales.$60,000,000

Cost of goods sold$36,000,000

Selling expenses (total)..$7,000,000

General and administrative expenses.$3,000,000

Income tax expense$3,500,000

What was the net income for the year-ended December 31, 20X8?

a. $22,500,000.

b. $13,500,000.

$24,000,000.

$10,500,000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Which of the following is TRUE about GLUT 4 transporters? Select one: a. are free-floating in the...

Medical Sciences
Q

what are the characteristics of successful aging?

Psychology
Q

Complete the analogy.Pane is to window as page is towrapperstorybook

Biology
Q

Which structures are highlighted O pseudostratified columnar epithelium O goblet cells O microvilli O cilia

Biology
Q

Use the inverse relations between In x and e exp x and the properties of...

Calculus
Q

Order Naproxen Sodium 0 75 grams Available Naproxen Sodium 375 mg per tablet How many...

Algebra
Q

The following data was prepared by the Pharoah Company. Total Variable Fixed Sales price $22/unit...

Accounting
Q

4. how does the company segment sales and expenses- in other words what departments do...

Accounting
Q

1 .Marymount Company makes one product. In the month of April, it made 3,500 units....

Accounting
Q

The Rock Shop shows the following data related to an item of inventory: ...

Accounting
Q

Lucia Company has set the following standard cost per unit for direct materials and direct...

Accounting
Q

Dan, age 45, is an independent contractor working in pharmaceutical sales, Cheryl, age 42, is...

Accounting