Cullumber Company had a 40 percent tax rate. Given the following pre-tax amounts, what would be the income tax expense reported on the face of the income statement? Sales revenue $ 1100000 Cost of goods sold 617000 Salaries and wages expense 80400 Depreciation expense 119000 Dividend revenue 89500 Utilities expense 10600 Discontinued operations loss 99100 Interest expense 19200

$101,520

Explanation:

Income statement will be made as follows:

                                                   $

Sales Revenue                     1100000

Less: COGS                          (617000)

Gross Profit                            483000

Less: Salaries & Wages         (80400)

Less: Depreciation exp.         (119000)

Less: Utilities exp.                   (10600)

Less: Interest expense            (19200)

Earning before tax                  253800

Less: Tax(40%)                          (101520)

Hope this helps.

Good luck buddy.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

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