Problem
i. Griffin's Goat Farm, Inc., has sales of $650,000, costs of $339,000, depreciation expense of $76,000, interest expense of $48,500, and a tax rate of 24 percent. What is the net income for this firm? after doing all the steps how did you find the net income?
ii. Wims, Inc., has current assets of $7048, net fixed assets of $29373, current liabilities of $3759, and long-term debt of $11,000. What is the value of the shareholders' equity account for this firm?