please show math. particularly total incone for calculating taxes.

oblem 10.3 (LO2) Master Budget Techlabs operates a computer training center. The following data relate to the nuary 2021. At the end of 2020, the company's general ledger indicated the following balances: Debits Credits Cash $ 60,000 Accounts Payable $40,000 Accounts receivable 40,000 Note payable 60,000 Equipment (net) 120,000 Common stock 30,000 Retained earnings 90,000 Total $220,000 $220,000 Tuition revenue in December 2020 was $80,000, and tuition revenue budgeted for January 2021 is $110,000. 3. Fifty percent of tuition revenue is collected in the month earned, and 50 percent is collected in the subsequent month 2020 reflects tuition earned in December 2020. Monthly expenses (excluding interest expense) are budgeted as follows: salaries, $60,000; rent, $4,000; depreciation $2,000; other, $800. 5. Expenses are paid in the month incurred. Purchases of equipment are paid in the month after purchase. The $40,000 money owed for the purchase of computer equipment in December 2020. 6. The company intends to purchase $50,000 of computer equipment in January 2021. The anticipated $8,000 per mon reflects the addition of $2,000 of monthly depreciation related to this purchase. 7. The note is at 15 percent per annum and requires monthly interest payments of $750. The payments are made on the must be paid in February 2022. The tax rate icon percent Back to page 10-24 yur Techlaba Cash Budget For January 2018 Part: Cash receipts Totalcash receipts Cash Disbursements Total cash disbursements Excess of disbursements over recepts Plus beginning cash balance Ending cash balance 11 0 Part 3: TechLabs Budgeted Income Statement For January 2018 Tuition fevenue Less Total expenses Income before taxes Taxes on income Net income Part TechLabs Budgeted Balance Sheet As of January 31, 2018 Assets Total assets Liabilities Total liabilities Stockholders' equity Total stockholders' equity Total abilities and stockholders' equity