Clarkesville Plumbing Company

Clarkesville Plumbing Company

1. You are given the following information about Clarkesville Plumbing Company. Revenues last year totaled $896, depreciation expenses $75, costs of goods sold $365, and interest expenses $54. At the end of the year, current assets were $121 and current liabilities were $107. The company has an average tax rate of 34 percent. Calculate its net income by setting up an income statement.

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