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The Willie Company has provided the following information: Operating expenses were $345,000; Income from operations was $415,000; Net sales were $1,100,000; Interest expense was $71,000; Loss from sale of investments was $87,000; Income tax expense was $58,000. What was Willie's net income

Respuesta :

jepessoa

Answer:

net income = $199,000

Explanation:

In order to calculate net income, we will first start with EBIT or income from operations and then subtract income tax expense, loss from sale of investments and finally income taxes:

  • EBIT = $415,000
  • Interest expense = $71,000
  • Loss from sale of investments = $87,000
  • Income tax expense = $58,000
  • Net income = $199,000

Gross profit is deducted from net income, as are any other expenditures and costs, as well as any other earnings and revenue sources not shown in gross profit.

For the net income according to the following question is shown in the image.

For more information about Net Income refer to the link:

https://brainly.com/question/20938437

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