LeGrand Corporation reported the following amounts in its income statement:
Sales revenue $ 440,000
Advertising expense 60,000
Interest expense 10,000
Salaries expense 55,000
Utilities expense 25,000
Income tax expense 45,000
Cost of goods sold 180,000
What was LeGrand's net income?
A) $120,000.
B) $60,000.
C) $110,000.
D) $65,000.
Answer: D
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