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Burns Holdings Inc. recorded sales of $100,000 last year and distributed $40,000 in total dividend payments to the company's shareholders. The company also recorded cost
Burns Holdings Inc. recorded sales of $100,000 last year and distributed $40,000 in total dividend payments to the company's shareholders. The company also recorded cost of goods sold of $70,000, total other expenses of $10,000, equity income of $5,000, and an increase in its cash account of $50,000. If the company paid income taxes of $15,000, what is the company's net after-tax income for the year?
a. $60,000
b. $25,000
c. $10,000
d. ($30,000)
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