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Question
Gold Jewelry, Inc. has annual sales of $4.5 million and a gross profit margin of 55 percent. The operating expenses are $540,750 and depreciation is $170,300. Interest expense is $95,000 and the tax rate is 35 percent. What is the net income?A. $1,002,980
B. $1,084,818
C. $1,356,220
D. $1,589,200
E. $2,385,000
Answer
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