Ask Question
24 September, 00:45

Tantor Supply, Inc., is a small corporation acting as the exclusive distributor of a major line of sporting goods. During 2018 the firm earned $ 90 comma 000 before taxes. a. Calculate the firm's tax liability using a flat tax rate of 24 %. b. How much are Tantor Supply's 2018 after-tax earnings?

+2
Answers (1)
  1. 24 September, 03:49
    0
    Tantor supply after-tax income 68,400

    Explanation:

    Tantor Supply's pre-tax income = 90,000 dollars

    tax rate: 24% = 24/100 = 0.24

    before tax income x tax-rate = tax income expense

    90,000 x 0.24 = 21,600 tax expense

    before tax - tax income expense = net income

    90,000 - 21,600 = 68,400

    Tantor's Supply after tax income 68,400
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Tantor Supply, Inc., is a small corporation acting as the exclusive distributor of a major line of sporting goods. During 2018 the firm ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers