During the last year, ABC Company had $3,300,000 in income for both sales and royalty payments.

It had a sales staff of four, who received on average $83,000 in compensation (salary and benefits) ($83,000 X 4).

The sales staff also received $45,000 in bonuses (total for all four).

The rest of all staffmanagement, production, officereceived total compensation amounting to $2,200,000.

At the end of the year the company also had $225,000 in its checking account and customers owed XYZ a total of $270,000 (due within 30 days of the end of the year).

The company also owed a total of $125,000 in unpaid federal and state taxes.

Provide the following calculations, being sure to show your work.

1. What is the Company's income before income taxes?

2. What are the Company's current assets?

3. What is the Company's shareholder equity?