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need help with question 11, 12 and 13 For the next three questions, consider the following scenario. During the last year, XYZ Company had $3,300,000
need help with question 11, 12 and 13
For the next three questions, consider the following scenario. During the last year, XYZ Company had $3,300,000 in income for both sales and royalty payments. It had a sales staff of four, who received on average $83,000 in compensation (salary and benefits). The sales staff also received $45,000 in bonuses (total for all four). The rest of all staff-management, production, office-received total compensation amounting to $2,200,000. At the end of the year the company also had $225,000 in its checking account and customers owed XYZ a total of $270,000 (due within 30 days of the end of the year). The company also owed a total of $125,000 in unpaid federal and state taxes. Assuming that there is no other relevant information available, make the following calculations, being sure to show your work via an uploaded file (MS Word or an image of pencil on paper). Question 11 10pts What is XYZ Company's income before income taxes? Question 12 10pts What are XYZ Company's current assets? Question 13 10 pts What is XYZ Company's shareholder equity Step by Step Solution
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