Titan Football Manufacturing had the following operating results for 2016: sales = $19,860; cost of...
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Titan Football Manufacturing had the following operating results for 2016: sales = $19,860; cost of goods sold = $13,900; depreciation expense = $2,290; interest expense = $305; dividends paid = $630. At the beginning of the year, net fixed assets were $17,800, current assets were $3,020, and current liabilities were $1,990. At the end of the year, net fixed assets were $21,140, current assets were $3,440, and current liabilities were $2,080. The tax rate for 2016 was 40 percent. a. What is net income for 2016?
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