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K Ltd., a Canadian company, had sales of $4,600,000 in the last reporting period of the fiscal year ($4,000,000 within Canada and $600,000 outside of
K Ltd., a Canadian company, had sales of $4,600,000 in the last reporting period of the fiscal year ($4,000,000 within Canada and $600,000 outside of Canada). During the same period, the following expenditures were incurred: inventory purchased $1,000,000, equipment purchased $120,000, salaries & wages $500,000, rent $200,000, insurance $25,000, and interest expense $40,000. What is the amount of GST to be remitted to the CRA for the reporting period?
$_____________
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