Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. inverness farms, ltd., 2020 income statement ($ in

Inverness Farms, Ltd., 2020 Income Statement ($ in millions) Amount Revenues $975,000 Cost of Goods...

80.2K

Verified Solution

Question

Finance

image
Inverness Farms, Ltd., 2020 Income Statement ($ in millions) Amount Revenues $975,000 Cost of Goods Sold $400,000 Selling & Admin Expenses $70,000 Depreciation expense $185,000 Interest Expense $75,000 Applicable income tax rate 20% What is the amount of net income for this firm? Select one: O a. $136,250 O b. $165,000 O c. $196,000 O d. $220,000 O e. $108,750

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

A book publisher has fixed costs of 360 000 and variable costs per book of...

Advance Math
1.2K views

It is standard in some programming languages for the number zero to represent one of the...

Physics
1.2K views

A disc of mass M and radius R is rolling without slipping with angular speed...

Geometry
1.2K views

12 translation 4 units right and 1 unit up Ay A 7 N X

Basic Math
1.2K views

Given quadrilateral RSTU, tell which sides (if any) are parallel and which are perpendicular for...

Basic Math
1.2K views

Solve the exponential equation by taking the logarithm of both sides.You will need to use...

Calculus
1.2K views

Admission to a baseball game is 4 00 for general admission and 5 50 for...

Algebra
1.2K views

A water sprinkler sends water out in a circular pattern. How many feet away from...

Algebra
1.2K views

Find the solutions by factoring. Choose all that apply.x + 4x = 12Select one or...

Accounting
1.2K views

Consumers benefit in dealing with retail corporate chains because corporate chains have more experience than...

Accounting
1.2K views

I am currently working an assignment in the Excel Applications for accounting Principles. I was...

Finance
1.2K views

hi can you please answer the correct matching options for this one, i need it...