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Question 5 Last year, California Sushi and Such (CSS) had sales of $65 million. The firm's operating expenses amounted t
Posted: Sun Jul 03, 2022 3:55 pm
by answerhappygod
- Question 5 Last Year California Sushi And Such Css Had Sales Of 65 Million The Firm S Operating Expenses Amounted T 1 (57.88 KiB) Viewed 17 times
Question 5 Last year, California Sushi and Such (CSS) had sales of $65 million. The firm's operating expenses amounted to $20 million and costs of goods sold totaled $15 million. In addition, CSS received $80,000 in dividend income, and paid $300,000 in dividends to its stockholders. CSS has $25 million in bonds outstanding with an annual interest payment of 9%. The firm also had $4 million in depreciation expense, and sold land for $3.5 million that had been purchased for $2.5 million several years earlier. What is the firm's tax liability? O $4.995,900 $5,214,300 O $5,205,900 $5,460,000 1 pts $5,189,100