Parker Technologies had sales of $2,200,000 in 2024. Their cost of goods sold represented 55% of sales. Selling and administrative expenses were 14% of sales. Depreciation expense for the year was $48,000, and interest expense was $32,000. The company's tax rate is 22%. What is the dollar amount of taxes paid by Parker Technologies?

Parker Technologies had sales of $2,200,000 in 2024. Their cost of goods sold represented 55% of sales. Selling and administrative expenses were 14% of sales. Depreciation expense for the year was $48,000, and interest expense was $32,000. The company's tax rate is 22%. What is the dollar amount of taxes paid by Parker Technologies?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 11P: The Berndt Corporation expects to have sales of 12 million. Costs other than depreciation are...

See similar textbooks

Similar questions

Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of goods sold was 240,000, its operating expenses were 50,000, its interest revenue was 2,000, and its interest expense was 12,000. Brandts income tax rate is 30%. Prepare Brandts multiple-step income statement for the current year.
What is the dollar amount of taxes paid on these financial accounting question?
What is karan financial services net income?
What is the dollar amount of taxes paid?
What is the dollar amount of taxes paid on these financial accounting question?
Company K had total sales of $2,800,000 during the year. The cost of goods sold and depreciation expense were $2,100,000 and $530,000, respectively. The company had a net interest expense of $250,000, and its tax rate is 30%. What is Company K’s net income?help
Karan Financial Services has total sales of $890,000, costs of $365,000, depreciation expense of $57,000, and an interest expense of $42,000. The company has a tax rate of 30%. What is Karan Financial Services' net income?
Company K had total sales of $2,800,000 during the year. The cost of goods sold and depreciation expense were $2,100,000 and $530,000, respectively. The company had a net interest expense of $250,000, and its tax rate is 30%. What is Company K’s net income?
The annual sales of a company are $235,000 including sales tax at 17.5%. Half of the sales are on credit terms, half are cash sales. The receivables in the statement of financial position are $23,500. What is the output tax?
Fragile Express Delivery Company’s earnings before interest and taxes (EBIT) was $725 million. Assuming Fragile Express Delivery’s tax rate is 37%, what is their net operating profit after taxes (NOPAT) for 2019 expressed in millions of dollars
Help me
What is company bs net income?