Question 6What is the tax liability for a corporation with $13,600,000 in taxable income?
Question 7Dividends paid by the firm ________are paid out of net incomeQuestion 8California Sushi and Such (CSS) had 2006 sales of $65 million. The firm’s operating expenses amounted to $20 million and costs of goods sold totaled $15 million. In addition, CSS received $80,000 in dividend income, and paid $300,000 in dividends to its stockholders. CSS has $25 million in bonds outstanding with an annual interest payment of 9%. The firm also had $10 million in depreciation expense, and sold land for $3.5 million that had been purchased for $2.5 million several years earlier. What is the firm's tax liability?
Question 9An analyst is conducting a financial analysis of Harmony Inc. She doesn't have Harmony's full financial statements, but she knows the firm had accounts payable of $100 million dollars, accounts receivable of $200 million, and the firm earned $100 million in profits (net income) on