What is marine enterprises after tax net cash inflow? Accounting/Cash flowMarine Enterprises (a C corporation) sold $120,000of merchandise for which it paid $50,000. It alsopaid $38,000 of other expenses. All transactionswere in cash. What is Marine Enterprises' after-taxnet cash inflow? [Assume the corporate tax rate is21%]

Step 1: Calculate Gross ProfitSales = $120,000COGS = $50,000Gross Profit = $120,000 - $50,000 =…

Answered: Accounting/Cash flow Marine Enterprises…

Financial Management: Theory & Practice

16th Edition

ISBN:9781337909730

Author:Brigham

Publisher:Brigham

Chapter2: Financial Statements, Cash Flow,and Taxes

Section: Chapter Questions

Problem 7P

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Accounting/Cash flow Marine Enterprises (a C corporation) sold $120,000 of merchandise for which it paid $50,000. It also paid $38,000 of other expenses. All transactions were in cash. What is Marine Enterprises' after-tax net cash inflow? [Assume the corporate tax rate is 21%]