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Carriage House Corporation had sales of $7 million last year. Costs of goods sold and operating expenses amounted to 60% of sales. Interest expense amounted
Carriage House Corporation had sales of $7 million last year. Costs of goods sold and operating expenses amounted to 60% of sales. Interest expense amounted to $160,000. Also, Carriage House sold 30,000 shares of Textron Company common stock for $16 a share. Carriage House had purchased these shares two years ago for $11 a share. Also, Carriage House received $50,000 in dividend income for the year. Calculate Carriage House Corporation's tax liability O $585.900 O 5554,400 $591.150 O $596,400 5588,000 Carriage House Corporation had sales of $7 million last year. Costs of goods sold and operating expenses amounted to 60% of sales. Interest expense amounted to $160,000. Also, Carriage House sold 30,000 shares of Textron Company common stock for $16 a share. Carriage House had purchased these shares two years ago for $11 a share. Also, Carriage House received $50,000 in dividend income for the year. Calculate Carriage House Corporation's tax liability O $585.900 O 5554,400 $591.150 O $596,400 5588,000
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