Last Year Your Company Had Sales Of 2 4 Million The Firm S Costs Of Goods Sold Amounted To 34 Of Sales The Firm Als 1 (24.53 KiB) Viewed 48 times
Last Year Your Company Had Sales Of 2 4 Million The Firm S Costs Of Goods Sold Amounted To 34 Of Sales The Firm Als 2 (27.45 KiB) Viewed 48 times
Last Year Your Company Had Sales Of 2 4 Million The Firm S Costs Of Goods Sold Amounted To 34 Of Sales The Firm Als 3 (27.45 KiB) Viewed 48 times
Last year, your company had sales of $2.4 million. The firm's costs of goods sold amounted to 34% of sales. The firm also paid cash operating expenses of $1,200,000, and had $80,500 in depreciation expense. The firm had $450,000 in 9% coupon bonds outstanding and paid $25,000 in dividends to its common stockholders. Also, the firm received $40,000 in dividend income from its holdings of other common stocks. Compute the corporation's tax liability.
Correct Answer Last year, your company had sales of $2.4 million. The firm's costs of goods sold amounted to 34% of sales. The firm also paid cash operating expenses of $1,200,000, and had $80,500 in depreciation expense. The firm had $450,000 in 9% coupon bonds outstanding and paid $25,000 in dividends to its common stockholders. Also, the firm received $40,000 in dividend income from its holdings of other common stocks. Compute the corporation's tax liability. $55,230 $63735 $54,180 $63.630 $59,430
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!