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What is the company net income

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The firm has disclosed the following financial information in its annual reports for the period ending March 31, 2017: sales of $1.54 million, cost of goods sold of $812,400, depreciation expenses of $175,000, and interest expenses of $89,575.

Assume that the firm has an average tax rate of 56 percent.

What is the company's net income? Set up an income statement to answer the question. (Round answers to 2 decimal places, e.g. 15.25)

Please show solution.

Reference no: EM132406621

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