Billy’s Exterminators, Inc., has sales of $661,000, costs of $316,000, depreciation expense of $68,000, interest expense of $44,000, and a tax rate of 35 percent.

What is the net income for this firm?

Net income

$

Explanation:

The income statement for the company is:

  

Income Statement
Sales	$	661,000
Costs		316,000
Depreciation		68,000
EBIT	$	277,000
Interest		44,000
EBT	$	233,000
Taxes (35%)		81,550
Net income	$	151,450