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Builtrite had sales of $4,000,000. COGS totaled $1,400,000. Operating expenses were $1,100,000 and interest expense was $335,000. Stock purchased for $37,500 was sold 15 months
Builtrite had sales of $4,000,000. COGS totaled $1,400,000. Operating expenses were $1,100,000 and interest expense was $335,000. Stock purchased for $37,500 was sold 15 months later for $30,500. Management paid a $500,000 common stock dividend and a $180,000 preferred stock dividend. Builtrite also received $200,000 in dividend income. What is Builtrite's taxable income? 485000 1158000 1165000 1225000 1365000
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