Multiple Choice
Suppose Ningbo Steel had sales revenue of $11,000 sales revenue, cost of goods sold of $5,000, operating expenses of $3000, interest expense of $1,000, a tax rate of 20%, and 1,000 shares of common stock outstanding. Based on this information, net profit after tax was:
A) $1,600
B) $1,000
C) $500
D) $0
Correct Answer:
Verified
Correct Answer:
Verified
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