Sammy's Shovels had sales of $ 76,733 in 2010. The cost of goods sold was $ 36,749 , operating expenses (excluding depreciation) were $ 15,833 , interest expenses were $ 2,210 , depreciation expense was $ 5,547 , and dividends paid were $ 3,962 . The firm's tax rate is 23 percent. What did Sammy's Shovels report as net income (or, net profit) in 2010?
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Net Income = (Sales - Cost of Goods Sold -... View the full answer