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Ron is the sole shareholder of Rons Jewelry, a cash basis calendar-year C corporation. The corporation had the following items of income and expense for

Ron is the sole shareholder of Rons Jewelry, a cash basis calendar-year C corporation. The corporation had the following items of income and expense for Year 1:

Sales revenue (all cash sales) $250 Cost of goods sold (all cash paid in Year 1) $85 Rent paid for store space (all in cash) $12 Depreciation expenses for taxable income $20 Depreciation expenses on the financial statement $10 Interest income from City of Flint bonds (all cash) $4 Interest income from Microsoft Corporation bonds (all cash) $3 Salary paid in cash $50 Cash contribution to the Democratic Party (all cash) $15 Parking tickets (all cash) $3

Assume the corporate tax liability of Bead in Year 1 is $10. Start with sales, calculate Bead's after-tax cash flow assuming tax year 2020. Please specify all calculations to retrieve this number. Thank you.

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