Calculate the net profits (after taxes) for the following cash flows. The cash flows havenot been sorted out.Assume that the tax rate for this company is 32%.Advertising expensesBank chargesConsulting fee paidDepreciationFuel$800$450$4,500$1,800$6,340$700$6,200$1,200Insurance paidPhone and internet expensesProperty taxes paidExecutive salariesTotal income (services rendered)Utilities (water & electricity)$25,200$94,800$7,400$27,343$39,010O $42,349$149,390

Introduction:- Net income is the amount of profit a obtained by companies after paying all expenses…

Answered: Calculate the net profits (after taxes)…

Business

Accounting

Calculate the net profits (after taxes) for the following cash flows. The cash flows have not been sorted out.

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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Question

Calculate the net profits (after taxes) for the following cash flows. The cash flows have
not been sorted out.
Assume that the tax rate for this company is 32%.
Advertising expenses
Bank charges
Consulting fee paid
Depreciation
Fuel
$800
$450
$4,500
$1,800
$6,340
$700
$6,200
$1,200
Insurance paid
Phone and internet expenses
Property taxes paid
Executive salaries
Total income (services rendered)
Utilities (water & electricity)
$25,200
$94,800
$7,400
$27,343
$39,010
O $42,349
$149,390

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