Builtrite had sales of $900,000 and COGS of $280,000. In addition, operating expenses were calculated at 30% of sales. Builtrite also received dividends of $50,000 and paid out common stock dividends of $25,000 to its stockholders. A long-term capital gain of $50,000 was realized during the year along with a capital loss of $70,000 Based on their taxable income, what is Builtrite's tax liability? $136,000 O $124,100 $117,300 O $115,600 O $113,900

Builtrite had sales of $900,000 and COGS of $280,000. In addition, operating expenses were calculated at 30% of sales. Builtrite also received dividends of $50,000 and paid out common stock dividends of $25,000 to its stockholders. A long-term capital gain of $50,000 was realized during the year along with a capital loss of $70,000 Based on their taxable income, what is Builtrite's tax liability? $136,000 O $124,100 $117,300 O $115,600 O $113,900

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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