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how is income tax expense calculated? Amount(s) Amount($) $574,750 $2,610 $10,000 S562,140 $336,160 $225,980 Particulars Sales Less: Sales discount Sales discount Net Sales Cost of
how is income tax expense calculated?
Amount(s) Amount($) $574,750 $2,610 $10,000 S562,140 $336,160 $225,980 Particulars Sales Less: Sales discount Sales discount Net Sales Cost of Goods sold Gross Margin Operating Expense Rent expense Supplies expense Interest expense Insurance expense Bad debt expense Depreciation expense Total Operating Expense Other Revenue & expenses Rent Income Net income Before tax Income Tax Expense Net Income $500 $1150 $12,200 $3,075 $899 $77,382 $95,206 S2000 $132,774 S46,121 $86,653 Step 2 of 4, Statement of Retained Earnings Retained Earning begining balance S95,937 Add: Net income S86,653 Retained Earning, ending balance $182,590 Step by Step Solution
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