Given the following data from Swamp & Sand Industries, calculate the NI. The tax rate is...

Given the following data from Swamp & Sand Industries, calculate the NI. The tax rate is 30%.

Sales	1100
Cost of Sales	400
SGA	320
Depreciation	82
Interest Expense	8
NWC	21
CapEx	120
Dividends	26

Note SGA does not include depreciation.

Expert Solution

Swamp & Sand Industries
Income Statement

Particulars	Amount

Sales	1,100
Less: Cost of sales	400
Less: SGA	320
Less: Depreciation Expenses	82
Earnings Before Interest & Tax (EBIT)	298
Less: Interest Expenses	8
Earnings Before Tax (EBT)	290
Less: Tax at 30%	87

Net Income	203

Hence, the Net Income for Swamp & Sand Industries = 203

jeff jeffy answered 9 months ago

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