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Solve the following questions Question 2: a) A firm paid Rs. 43,000 in dividends over the last period. The beginning balance of retained earnings was

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Solve the following questions

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Question 2: a) A firm paid Rs. 43,000 in dividends over the last period. The beginning balance of retained earnings was nil and ending balances Rs. 1,25,000 respectively. Assuming a 35% average tax rate, what was the firm's net income before and after taxes? b) The Malik Company has total annual revenue of $750,000; expenses other than depreciation of $300,000; depreciation expense of $200,000 for tax purposes; and depreciation expense of $140,000 for reporting purposes. The tax rate is 30%. Calculate net income for reporting purposes and for tax purposes. What is the deferred tax liability?Question 3: The data is extracted from the books of Mystery Mountain Lodge at December 31, 2001: Sales Cost of Goods Sold 181.25 % of Gross profit Gross Profit Operational Expenses Operational Income 10,000 Interest Expense Income before Income Tax Income Tax (35%) 1,750 Income ? Inventory (20% of Gross profit) 32,000 Required: Calculate the missing values. 11. Using the statement of earnings, prepare a vertical common size analysis, and comment

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