Working with the income statement At the end of its third year of operations the Sandifer Manufacturing Co, had $4,530,000 in revenue $ 3,342,000 in cost of goods sold $451,000 in operating expenses which included depreciation expense of $143,000 and a tax liability equal to 34 percent of the firms taxable income. What is the net income of the firm for the year?

Complete the income statement for Sandifer Manufacturing Co. Round to nearest dollar

Revenues=

Less: Cost of Goods Sod= 

Equals Gross Profit=

Less Operating Expenses=

Equals Net operating Income=

Less Interest Expense=

Equals Earnings before Taxes=

Less income taxes =

Equals Net Income=

 

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Annuity payments Lisa wants to have $ 1,7000,000 in 50 years by making equal annual end of the year deposits into a tax deffered account paying 9.75 percent annually. What must Lisa’s annual deposit be?

The amount of Lisa’s annual deposit be $ round to nearest cent

 

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