Income Tax

Question 8

A company's gross profit percentage is 30%. The company offers a 25% qualified employee discount to its key employees and a 15% discount to all other employees. If Kat, a key employee, and Trish, a non key, no highly paid employee, each purchase $100 worth of company goods, the amount Kat and Trish will include in gross income is:

Question 8 options:

$10 and $0, respectively.

$15 and $15, respectively.

$25 and $0, respectively.

$10 and $10, respectively.

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