1.

A business had sales of $576,000, cost of goods sold of $234,000, operating costs of $243,000, and interest expense of $23,100. The marginal income tax rate is 25%. Calculate after-tax profit.

Select one:

a. $59,840

b. $54,390

c. $56,925

d. $44,748

e. $66,903

2.Which of the following is an advantage of starting a business as a corporation?

Select one:

a. The shareholders of a corporation face unlimited personal liability

b. Corporations are relatively easy to start

c. The profits of a corporation are taxed once as personal income of the shareholders

d. Corporations are more regulated than partnerships

e. Corporations separate business ownership from management

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