Art's Boutique announced that for the period ending December 31, 2011, it had revenues of $640,000. The company's costs (excluding depreciation and amortization) amounted to 75% of revenues, and Art's boutique had interest expenses of $40,000 and depreciation of 60,000. What is the firm's net income if the tax rate was 34 percent?© BrainMass Inc. brainmass.com June 4, 2020, 2:32 am ad1c9bdddf
Revenues : $640,000
Costs : 640000*75%=$480,000
Interest : ...
Solution describes the steps to calculate the firm's net income.