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Determine the amount of net income

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Reference no: EM132934750

Problem - Use the following information (in thousands):

Sales revenue P300,000

Gain on sale of equipment 90,000

Cost of goods sold 164,000

Interest expense 16,000

Selling and administrative expenses 30,000

Income tax rate 30%

Required - Determine the amount of net income.

Reference no: EM132934750

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