Answer:
Therefore, the firm's net profit after taxes for 2013 was $320.
Step-by-step explanation:
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Net profit after taxes is the profit that is obtained after all expenses including taxes have been deducted from revenue.
The net profit after tax of a firm can be determined by preparing an income statement.
Therefore, an income statement is prepared for this question to determine the firm's net profit after taxes as follows:
Income Statement
For the Year 2013
Particulars $
Sales 3,060
Cost of goods sold (1,800)
Gross Profit 1,260
Operating expenses (600)
Operating profit 660
Interest expense (126)
Profit before tax 534
Tax (534 * 40%) (214)
Net profit after tax 320
Therefore, the firm's net profit after taxes for 2013 was $320.