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Reliable Corporation had sales of $60,528,826, cost of goods sold of $24,190,234, operating expenses of $14,500,000 and depreciation of $3,507,310. The firm received $104,606
Reliable Corporation had sales of $60,528,826, cost of goods sold of $24,190,234, operating expenses of $14,500,000 and depreciation of $3,507,310. The firm received $104,606 in dividend income and paid 8% interest on $15,000,000 in outstanding bonds. Also, Reliable sold stock during the year, receiving a $120,000 gain on stock owned 4 years, but losing $160,000 on stock owned 6 years, What is the firm's tax payment? SET YOUR CALCULATOR TO 4 DECIMAL
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