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Please answer me the question?! ooo mobily 4G 4:31 PM @ 35%[ moodle.ubt.edu.sa Chapter 3 Exercisel: Sales for L.B. Menielle Inc. during the past year
Please answer me the question?! ooo mobily 4G 4:31 PM @ 35%[ moodle.ubt.edu.sa Chapter 3 Exercisel: Sales for L.B. Menielle Inc. during the past year amounted to S5.14 million. The firm provides parts and supplies for oil field service companies, Cost of goods sold for the year were $2.02 million. Operating expenses totaled S1.18 million. The firm's interest expense was $76,000 a) Calculate the corporation's tax liability by using the corporate tax rate structure below b) Calculate net income ate Tax Rates 15% S0 $50,00 $50,001 $75,00 S75,001--$10,000,00 34% 35% over $10,000,00 Additional surtax 5% on income between $100,000 and $335,000 3% on income between $15,000,000 and $18,333,333
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