The Oakland Mills Company has disclosed the following financial information in its annual reports for...
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The Oakland Mills Company has disclosed the following financial information in its annual reports for the period ending March 31, 2013: sales of $1,692,000, costs of goods sold of $814,500, depreciation expenses of $175,000, and interest expenses of $89,575. Assume that the firm has a tax rate of 35 percent. What is the company's net income? Set up an income statement to answer the question. (Round answers to 2 decimal places, e.g. 15.25) Amount $ $ $ $ $The Oakland Mills Company has disclosed the following financial information in its annual reports for the period ending March 31, 2013: sales of $1,692,000, costs of goods sold of $814,500, depreciation expenses of $175,000, and interest expenses of $89,575. Assume that the firm has a tax rate of 35 percent. What is the company's net income? Set up an income statement to answer the question. (Round answers to 2 decimal places, e.g. 15.25) Amount $ $ $ $ $
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