Question 1: If the Marifield Steel Fabrication Company earned $461,000 in net income and paid a cash dividend of $251,000 to its stockholders, what are the firm's earnings per share if the firm has 105,000 shares of stock outstanding?

Question 2: Barrington Enterprises earned $3.7 million in taxable income (earnings before taxes) during its most recent year of operations. Use the corporate tax rates shown in the popup window, to calculate the firm's tax liability for the year. What are the firm's average and marginal tax rates?

Question 3: Last year Sanderson, Inc. had sales of $3.6 million. The firm's cost of goods sold came to $2.2 million, its operating expenses excluding depreciation of $104,000 were $390,000, and the firm paid $155,000 in interest on its bank loans. Also, the corporation received $48,000 in dividend income (from a company in which it owned less than 20 percent of its shares) but paid $30,000 in the form of dividends to its own common stockholders. Use the corporate tax rates shown in the popup window, to calculate the corporation's tax liability. What are the firm's average and marginal tax rates?

Question 4: The Robbins Corporation is an oil wholesaler. The firm's sales last year were $1.01 million, with the cost of goods sold equal to $600,000. The firm paid interest of $209,500 and its cash operating expenses were $101,000. Also, the firm received $42,000 in dividend income from a firm in which the firm owned 22% of the shares, while paying only $13,000 in dividends to its stockholders. Depreciation expense was $49,000. Use the corporate tax rates shown in the popup window, to compute the firm's tax liability. What are the firm's average and marginal tax rates?

Question 5: G. R. Edwin Inc. had sales of $6.14 million during the past year. The cost of goods sold amounted to $2.5 million. Operating expenses totaled $2.42 million, and interest expense was $22,000. Use the corporate tax rates shown in the popup window, to determine the firm's tax liability. What are the firm's average and marginal tax rates?

Question 6: Boisjoly Productions had taxable income of $19.8 million.

a. Calculate Boisjoly's federal income taxes using the tax table shown in the popup window:

b.Now calculate Boisjoly's average and marginal tax rates.