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  3. in year 1, aliyah's boutique (a retail clothing co

In Year 1, Aliyah's Boutique (a retail clothing company) sold 11,300 units of its product...

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Accounting

In Year 1, Aliyah's Boutique (a retail clothing company) sold 11,300 units of its product at an average price of $29 per unit. The company reported estimated returns and allowances in Year 1 of 2.0 percent of gross revenue. Aliyah's Boutique actually purchased 9,350 units of its product from its manufacturer in Year 1 at an average cost of $15 per unit. Aliyah's Boutique began Year 1 with 44,410 units of its product in inventory (carried at an average cost of $15 per unit). Operating expenses (excluding depreciation) for Aliyah's Boutique in Year 1 were $44,410, depreciation expense was $19,010, and interest expense was $9,510. Finally, Aliyah's Boutique's tax rate was 30 percent and Aliyah's Boutique paid of dividend of $4,100 at the end of Year 1. Aliyah's Boutique fiscal year runs from September 1 through August 31. Given this information, compute net income for Aliyah's Boutique for Year 1.
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