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Arrowhead Corporation had Sales of $16,745.579 last year. The firm's costs of goods sold amounted to 69% of sales. The firm also paid operating expenses
Arrowhead Corporation had Sales of $16,745.579 last year. The firm's costs of goods sold amounted to 69% of sales. The firm also paid operating expenses of $250,000 and $100,000 in interest expense. Also, the firm received $260.899 in dividend income and experienced a $200,000 capital loss on the sale of property. Compute the corporation's tax payment (or tax credit) assuming a tax rate of 21%. SET YOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND TO THE NEAREST WHOLE NUMBER AT THE END. IF YOUR ANSWER IS $1.000.000. FOR EXAMPLE, ENTER IT AS 1.000.000. DO NOT ENTER THE S SIGN. Burton Corporation had sales of $41,656,074 last year. Costs of goods sold amounted to 30% of sales, and cash operating expenses amounted to 20% of sales. Depreciation expense was $1,500,000. The firm paid 8% interest on $20,000,000 in outstanding bonds. Also, Burton sold 30,000 shares of Oviedo Company common stock for $74share. Burton had purchased these shares two years ago for $30 a share. Burton received $202,194 in dividend income for the year, and paid $504,466 in dividends to its common shareholders. Compute the firm's tax liability. SET YOUR CALCULATOR TO 4 DECIMAL PLACES THEN ROUND TO THE NEAREST WHOLE NUMBER AT THE END. DO NOT ENTER THE $ SIGN SYMBOL..e. if your answer is 1,000,000 enter it as 1,000,000
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