QUESTION 3:

QUESTION 4:

QUESTION 5:

QUESTION 6:

QUESTION 7:

QUESTION 8:

QUESTION 9:

QUESTION 10:

ALL DATA IS INCLUDED IN THE DATA TABLE THAT IS NEEDED.

Data table (Corporate income tax) Sales for J. P. Hulett Inc. during the past year amounted to $3.8 million. Gross profits totaled $1.07 million, and operating and depreciation expenses were $505,000 and $358,000, respectively. Dividend income for the year was $10,000, which was paid by a firm in which Hulett owns 85 percent of the shares. Use the corporate tax rates shown in the popup window, to Comcute the corporation's tax liability. What are the firm's average and marginal tax rates? The firm's tax liability for the year is $ (Round to the nearest dollar.) Data table (Corporate income tax) Meyer Inc. has taxable income (earnings before taxes) of $323,000. Calculate Meyer's federal income tax liability using the tax table shown in the popup window: . What are the firm's average and marginal tax rates? The firm's tax liability for the year is . (Round to the nearest dollar.) (Corporate income tax) 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. a. The firm's tax liability for the year is $. (Round to the nearest dollar.) (Corporate income tax) 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? The firm's tax liability for the year is \$ (Round to the nearest dollar.) (Corporate income tax) 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? The Robbins Corporation's tax liability for the year is $ (Round to the nearest dollar.) The firm's average tax rate is \%. (Round to two decimal places.) Data table Data table (Corporate income tax) 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? The firm's tax liability for the year is \$ (Round to the nearest dollar.) Data table (Analyzing the quality of earnings and sustainability of capital expenditures) Look up the statement of cash flows for both Home Depot and Lowes using Yahoo! Finance. a. Compute the quality of earnings ratio for both firms and all three years of data provided in the popup window: b. Compare the quality of earnings ratio for the two firms. For which firm do you feel most comfortable about the reported earnings quality? Explain. c. Compute the capital acquisitions ratios for the latest three years for both firms. d. Compare Home Depot's and Lowes' abilities of using operating cash flow to finance their capital expenditures. Which firm has relied more on the capital markets? a. Compute the quality of earnings ratio for both firms and all three years of data provided. What is Home Depot's quality of earnings ratio in 2011? \% (Round to one decimal place.) Data table (Analyzing the quality of firm earnings) Kabutell, Inc. had net income of $750,000, cash flow from financing activities of $70,000, depreciation expenses of $80,000, and cash flow from operating activities of $650,000. a. Calculate the quality of earnings ratio. What does this ratio tell you? b. Kabutell, Inc. reported the following in its annual reports for 2011-2013: Calculate the average capital acquisitions ratio over the three-year period. How would you interpret these results? a. What is Kabutell's quality of earnings ratio? % (Round to one decimal place.) Data table