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Banana Box Corporation has sales of $4,624,298; income tax of $501,229; the selling, general and administrative expenses of $208,980

Banana Box Corporation has sales of $4,624,298; income tax of $501,229; the selling, general and administrative expenses of $208,980; depreciation of $311,181; cost of goods sold of $2,532,613; and interest expense of $189,901. Calculate the amount of the firm’s income before tax?


Solutions

Expert Solution

Particulars Amount
Sales 4624298
Less: cost of goods sold 2532613
Less: selling, general and administrative expenses 208980
Less: interest expense 189901
Less: depreciation 311181
Profit before tax 1381623

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