Billy’s Exterminators, Inc., has sales of $598,000, costs of $296,000, depreciat

Question

Billy’s Exterminators, Inc., has sales of $598,000, costs of $296,000, depreciation expense of $48,000, interest expense of $34,000, and a tax rate of 35 percent. What is the net income for this firm? (Do not round intermediate calculations.)

i od anale ercent Billy's Exterminators, Inc., has sales of $598,000, costs of $296,000, depreciation expense of $48,000, interest expense of $34,000, and a tax rate of 35 percent. What is the net income for this firm? (Do not round intermediate calculations.) Net income

Explanation / Answer

Sales $598,000.00 Less: Expenses -$296,000.00 Less: depreciation -$48,000.00 EBIT $254,000.00 Less: Interest expenses -$34,000.00 EBT $220,000.00 Less: Tax @ 35% -$77,000.00 Net Income $143,000.00

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