Finding net income of a company

Reference no: EM13148068

Knox Corp. plans to sell 1,000 units in 2011 at an average sale price of $40 each. Cost of goods sold will be 40% of the sale price. Depreciation expense will be $2,500, interest expense $1,500, and other expenses will be $3,000. Wessel's tax rate is 35%. What will Knox Corp.'s net income be for 2011?

a. $ 9,500

b. $ 6,875

c. $14,200

d. $11,050

e. $28,430

Reference no: EM13148068

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