What is the net income, The Good Life Store has sales of $79,600. The cost of goods sold, Accounting Basics

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What is the net income

Problem:

The Good Life Store has sales of $79,600. The cost of goods sold is $48,200 and the other costs are $18,700. Depreciation is $8,300 and is NOT included in other costs. The tax rate is 34 percent.

Required:

Question: What is the net income?

A. $11,204

B. $2,904

C. $8,382

D. $14,660

Note: Please show guided help with steps and answer.

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Accounting Basics: What is the net income

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Accounting Basics: What is the net income

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