10 Antignolo Enterprises, Inc. (a corporation) reported the following information for 2020. Don't consider any other information. Antignolo will pay Federal Income Tax on: 380,000 250,000 Sales $ Cost of goods sold $ Operating expenses $ Interest Expense a. $ 45,000 85,000 73,000 44,000 b. $ 24 15,000 (c. $ d. $ e. $ 28,000 10,000 33,500 Dividend income $ 130,000 Dividends paidS 33,500 Net Income $

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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10 Antignolo Enterprises, Inc. (a corporation) reported the following information for 2020.
Don't consider any other information.
Antignolo will pay Federal Income Tax on:
45,000
73,000
44,000
Sales $
380,000
Cost of goods sold $
Operating expenses $
250,000
a. $
85,000
15,000
b. $
Interest Expense
2$
(c. $
Dividend income $
28,000
d. $
130,000
Dividends paid$
10,000
e. $
33,500
Net Income $
33,500
Transcribed Image Text:10 Antignolo Enterprises, Inc. (a corporation) reported the following information for 2020. Don't consider any other information. Antignolo will pay Federal Income Tax on: 45,000 73,000 44,000 Sales $ 380,000 Cost of goods sold $ Operating expenses $ 250,000 a. $ 85,000 15,000 b. $ Interest Expense 2$ (c. $ Dividend income $ 28,000 d. $ 130,000 Dividends paid$ 10,000 e. $ 33,500 Net Income $ 33,500
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