calculate the net income after corporate income tax is paid for quarter 2. income statement q1 (x1000) q2…

calculate the net income after corporate income tax is paid for quarter 2. income statement q1 (x1000) q2 (x1000) net sales 115 175 cogs (33) (34) gross profit 82 141 overhead (32) (49) pre - tax income 50 92 corporate income tax = $19,320 net income = $?

calculate the net income after corporate income tax is paid for quarter 2. income statement q1 (x1000) q2 (x1000) net sales 115 175 cogs (33) (34) gross profit 82 141 overhead (32) (49) pre - tax income 50 92 corporate income tax = $19,320 net income = $?

Answer

Explanation:

Step1: Identify pre - tax income for Q2

Pre - tax income for Q2 is $92\times1000 = 92000$ dollars.

Step2: Calculate net income

Net income = Pre - tax income - Corporate income tax. So, Net income=$92000 - 19320$. $92000-19320 = 72680$

Answer:

$72680$