Great news!! Our favorite pizza shop, Joe's had a record year. They had $4,743,823 in sales. For the year they had cash operating expenses of $523,854. They had COGS of $1,240,000. They had depreciation of $100,000 (not counted in cash operating expenses), They paid interest on their bonds of $114,000. They decided to pay $52,000 in dividends. They also received $27,000 in dividend income in a company they have a 45% ownership stake in, what is their tax liability?

Great news!! Our favorite pizza shop, Joe's had a record year. They had $4,743,823 in sales. For the year they had cash operating expenses of $523,854. They had COGS of $1,240,000. They had depreciation of $100,000 (not counted in cash operating expenses), They paid interest on their bonds of $114,000. They decided to pay $52,000 in dividends. They also received $27,000 in dividend income in a company they have a 45% ownership stake in, what is their tax liability?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 17P: The Raattama Corporation had sales of $3.5 million last year, and it earned a 5% return (after...

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