Question

Rogue Corp. has sales of $5442561; the firm's cost of goods sold is $2362175; selling, general,...

Rogue Corp. has sales of $5442561; the firm's cost of goods sold is $2362175; selling, general, and administrative expenses are $504057, and depreciation is $1145466. The firm's interest expense is $222651, and the corporate tax rate is 20%. What is Rogue's net income?

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Answer #1

Net income is calculated by deducting all the direct, indirect costs, tax expenses from the sales revenue. It is calculated in below table-

$
Sales 5442561
less: COGS 2362175
G/P 3080386
Less: administrative expenses 504057
Less: depreciation 1145466
Less: interest expenses 222651
Profit before tax 1208212
Less: Tax @20% 241642.4
Profit after tax(net income) 966569.6

Hence net income = $ 9,66,569.6

Hope it helps!

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