Question

How do I calculate Net income from the following information?  I would appreciate step by step guidance as to

what I use and what I don’t need to reach Net Income and what the Net Income is.

Cash                                                    14,870

Accounts Receivable                         22,180

Prepaid                                                 3,010

Supplies                                                   927

Equipment                                           62,150

Accumulated Deprecation                  13,750

Accounts payable                                28,000

Net Sales                                            325,000

Interest Expenses                                6,000

Tax Expense                                        12,600

Earnings Before interest & Taxes   122,623

Number of shares outstanding       335,000

I believe the supplies and equipment are assets (according to previous questions in this class)

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