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How much is the profit for the year

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problem 1: WASHY PALE Co. has the following information on December 31, 20x1: - Cost of sales is ?260,000.- Operating expenses are 13% of sales and 20% of cost of sales.- Interest expense is 5% of sales.- Income tax rate is 30%. There were no temporary differences during the year. How much is the profit for the year?

Option 1: 47,600

Option 2: 140,000

Option 3: 38,600

Option 4: 65,000

Reference no: EM132805968

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