Q. Given the following data, what is net income? (Note: Not all items shown below will be included in income.)
|
Cost of Goods Sold
|
8
|
|
Accounts Payable
|
22
|
|
Taxes Payable
|
6
|
|
Tax Expense
|
8
|
|
Revenues
|
40
|
|
SG&A Expense
|
2
|
|
Interest Payable
|
14
|
|
Accumulated Depreciation
|
11
|
|
Depreciation Expense
|
6
|
|
Interest Expense
|
4
|
|
Dividends
|
3
|