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How were income taxes found here? Amount($) Amount(s) $574,750 $2,610 $10.000 $562,140 $336,160 $225,980 Particulars Sales Less: Sales discount Sales discount Net Sales Cost of
How were income taxes found here?
Amount($) Amount(s) $574,750 $2,610 $10.000 $562,140 $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 $2000 $132,774 $46,121 $86,653 Step 2 of 4 Statement of Retained Earnings Retained Earning begining balance 895,937 Add:Net income 86,653 Retained Earning, ending balance $182,590 Step 3 of 4, Assets Current Assets Cash Balance sheet as at Amount(s) Amount(s) liabilities Amount(s) Amount(s) Current Liabilities $218,996 Accounts payable $42,350 Amount($) Amount(s) $574,750 $2,610 $10.000 $562,140 $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 $2000 $132,774 $46,121 $86,653 Step 2 of 4 Statement of Retained Earnings Retained Earning begining balance 895,937 Add:Net income 86,653 Retained Earning, ending balance $182,590 Step 3 of 4, Assets Current Assets Cash Balance sheet as at Amount(s) Amount(s) liabilities Amount(s) Amount(s) Current Liabilities $218,996 Accounts payable $42,350
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