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hi I need help answering the following questions thank you Help Save & Ext Alpaca Corporation had revenues of $210,000 in its first year of
hi I need help answering the following questions thank you
Help Save & Ext Alpaca Corporation had revenues of $210,000 in its first year of operations. The company has not collected on $18.800 of its sales and still owes $26,100 on $95.000 of merchandise it purchased. The company had no inventory on hand at the end of the year. The company paid $10,500 in salaries. Owners invested $20.000 in the business and $20,000 was borrowed on a five-year note. The company paid $4.900 in interest that was the amount owed for the year, and paid 55,800 for a two-year Insurance policy on the first day of business. Alpaca has an effective income tax rate of 40% Compute net income for the first year for Alpaca Corporation Multiple Choice $58020 O $96.700 556230 S000 Step by Step Solution
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