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19. Sales = $875,000, depreciation $80,000, interest paid $45,000, dividend per share $1.20, addition to retained earnings = $37,500, tax rate = 40%, number of shares of common stock outstanding = 40,000. 1) What is net income? 2) What is taxable income? 3) How much are the taxes? 4) What is EBIT? 5) What is cost of goods sold? 20. Sales = $960,000, cost of goods sold = $440,000, depreciation = $90,000, tax rate = 30%, net income is $126,000 lower than taxable income. 1) What is taxable income? 2) What is net income? 3) How much are the taxes? 4) What is interest paid? 21. Sales = $820,000, net income = $144,000, tax rate = 25%, depreciation is three times smaller than cost of goods sold, interest paid is four times smaller than taxable income. 1) What is taxable income? 2) How much are the taxes? 3) What is interest paid? 4) What is depreciation? 5) What is cost of goods sold? 22. Consider the following corporate tax table. Taxable income = $220,000. Taxable Income Tax Rate, is over but not over % 0 50,000 15 50,000 75,000 25 75,000 100,000 34 100,000 335,000 39 335,000 10,000,000 34 10,000,000 15,000,000 35 15,000,000 18,333,333 38 18,333,333 35 1) What is tax bill? 2) What is marginal tax rate? 3) What is average tax rate