Details for Rainbow Inc. for the fiscal year ending February 28, 2024:Sales: ?700,000Cost of Goods Sold: ?420,000Administrative...
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Accounting
- Details for Rainbow Inc. for the fiscal year ending February 28, 2024:
- Sales: ?700,000
- Cost of Goods Sold: ?420,000
- Administrative Expenses: ?50,000
- Selling Expenses: ?40,000
- Interest Expense: ?18,000
- Income Tax: ?20,000
Requirements (listed):
- Calculate the gross profit.
- Determine the operating profit.
- Compute the net profit before tax.
- Calculate the net profit after tax.
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