Lisa Manoban, operates a pet shop at the same time, offers interior design services to her clients. The following data were provided by Lisa for the 2018 taxable year. Pet Shop GROSS SALES 1,800,000 COST OF SALES 600,000 OPERATING EXPENSES 200,000 Interior design services GROSS SALES 1,150,000 COST OF SALES 120,000 OPERATING EXPENSES 80,000 How much is her income tax provided she opted to use the 8% Gross income tax?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Lisa Manoban, operates a pet shop at the same time, offers interior design services to her clients. The following data were provided by Lisa for the 2018 taxable year.

Pet Shop

GROSS SALES 1,800,000
COST OF SALES 600,000
OPERATING EXPENSES 200,000

Interior design services

GROSS SALES 1,150,000
COST OF SALES 120,000
OPERATING EXPENSES 80,000

How much is her income tax provided she opted to use the 8% Gross income tax?

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