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Construct an income statement for the year

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Reference no: EM132706548

Problem 1: At the end of its third year of operations, the Sandifer Manufacturing Company had $4,500,000 in revenue (sales); $3,375,000 in cost of goods sold; $450,000 in total operating expenses; $75,000 in interest expense and had a tax liability equal to 30% of the firm's taxable income. Construct an income statement for the year and find the net profit?

Reference no: EM132706548

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