Problem $2-6$ Corporate Taxes $($LG$2-3)$

Oakdale Fashions, Incorporated's, Income statement is reported below. $($Use corporate tax rate of $21$ percent for your calculations.$)$

Oakdale Fashions, Incorporated, Income

Statement

Determine the firm's tax liability.

$$ Tax liability $$

Determine the firm's net income.

Net income

Determine the firm's average tax rate.

$$

$\backslash$table$[[$Aver$],[$rate$]]$

Determine the firm's marginal tax rate.

Marginal tax

rate

Marginal tax

rate

$\%$