Piper industrial (PI) manufactures highly frofitable and its corporate tax rate is 20%. 

 

Cost of goods sold	$15000000
Expenses	$4700000
Gross profit (calculate)	X
Interest	$1000,000
Net profit after interest and tax	$3440,000
Net profit before interest and tax	$53300000
Net profit before tax	$43,00,000
Sales revenue	$25000,000
Tax	Y

a.) Define the term capital expenditure

b.) Using above table, calculate

i. Gross profit (X)

ii. Tax (Y)

c.) Using above table and your calculations in i, and ii construct the profit and loss account for PI?