Sheridan Rental Company provided the following information to its auditors. For the year ended March 31, 2017, the company had revenues of $880,300, general and administrative expenses of $353,300, depreciation expenses of $131,455, leasing expenses of $108,195, and interest expenses equal to $78,122. If the company's average tax rate is 34 percent, what is its net income after taxes?

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abiolataiwo2015 abiolataiwo2015 · Answer 1 · 2022-07-11T20:23:35+02:00

If the company's average tax rate is 34 percent, Its net income after taxes is: $138,090.48.

Revenues of $880,300

General and administrative expenses ($353,300)

Leasing expenses ($108,195)

Earning before interest, taxes, depreciation and amortization $418,805

Depreciation expenses ($131,455)

Earning before interest and taxes $287,350

Interest expenses ($78,122)

Earning before taxes $209,228

Taxes 34% $71,137.52

Net income/Loss $138,090.48

Therefore Its net income after taxes is: $138,090.48.

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