A firm had the following accounts and financial data for 2013. The firm's net profit after taxes for 2013 was .

Therefore, the firm's net profit after taxes for 2013 was $320.

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.

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