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Pest Away Corporation was organized by three individuals on January 1, 2017, to provide insect extermination services. At the end of 2017, the following statement
Pest Away Corporation was organized by three individuals on January 1, 2017, to provide insect extermination services. At the end of 2017, the following statement of earnings was prepared: PEST AWAY CORPORATION Statement of Earnings For the Year Ended December 31, 2017 Revenues Service revenue (cash) Service revenue (credit) Total revenues Expenses $198,300 28,500 $226,800 Salaries Rent Utilities $ 76,900 26,400 12,900 Advertising 14,900 Supplies 25,900 Interest Total expenses Earnings before income tax Income tax expense 8,900 165,900 60,900 22,170 Net earnings for the year $ 38,730 Required: 1. What was the average amount of monthly revenue? Average monthly revenue 2. What was the amount of monthly rent? Monthly rent 5. What was the average income tax rate for Pest Away Corporation? (Round the final answer to 2 decimal places.) Income tax rate 96 7. Is it possible to determine how much cash the company had on December 31, 2017? O Yes O No
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