Calculate Net Income Given the Following Information: Tax Rate =

Multiple Choice

Calculate net income given the following information: tax rate = 30%; accounts receivable = $15,000; receivable turnover = 6 times; inventory = $4,000; inventory turnover = 6.25 times; operating expenses = $15,000; interest expense = $9,000.

A) $29,700
B) $28,700
C) $27,700
D) $26,700
E) $25,700