Problem:
The firm had sales of $17,675,600. Depreciation and amortization was $844,100, interest expense for the year was $830,600, and selling general and administrative expenses totaled $1,563,600 for the year, and cost of goods sold was $10,962,100 for the year.
Requirement:
Assuming a federal income tax rate of 34%, what is net income after-tax?
Note: Please provide step by step solution.