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You are the sole proprietor and employee of ScArk Environmental Consulting. In the last year, ientele for $211,180 for environmental assessments, watershed rehabilitation, and wetland

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You are the sole proprietor and employee of ScArk Environmental Consulting. In the last year, ientele for $211,180 for environmental assessments, watershed rehabilitation, and wetland delineati and have found the following: ons. As you are doing your taxes, you are totaling receipts in various categories Expenses in 2018 for office rent: $14,400 Electricity and water bills for office during 2018: $1,488 Office Supplies purchased in 2018: $1,501 Field supplies purchased in 2018: $9,427 Lab work contracted out during 2018: $18,371 Gas, oil, maintenance on work truck during 2018: $4,212 General liability insurance for 2018: $5,427 . . . You have some capital assets that you purchased over the last 4 years and for all of these assets you can assume a salvage value of $O. You must determine the appropriate depreciation charge using straight-line depreciation for each: o Purchased in 2017, a work truck costing $38,710 o Purchased in 2016, a computer, scanner, and printer costing $2,780 Purchased in 2014, office furniture costing $2,800 You have standard deductions/exemptions totaling $4,800 o . , what A) You may assume that your Federal tax rate is 20% and your state tax rate is 7% are your estimated federal and state taxes based on you income and expenses? What is your estimated after tax cash flow for the year? B)

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