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Reliable Corporation had sales of $1,855,000. The firm's costs of goods sold amounted to 70% of sales. Reliable also paid operating expenses of $225,000,
Reliable Corporation had sales of $1,855,000. The firm's costs of goods sold amounted to 70% of sales. Reliable also paid operating expenses of $225,000, and $26,500 in interest expense. Also, the firm received $40,000 in dividend income and experienced a $10,000 capital gain on the sale of property. Compute the corporation's tax payment. O $69,615 O $70,350 O $74,550 O $64,050 $68,250
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