A company has the following budget information: Sales: $118,800; COGS: $48,500; Depreciation expense: $1,500; Interest expense: $250; Other expenses: $41,880. If the company budgets 40% for income tax expense, the amount of budgeted income tax expense will be $.

Last year, Johnson Mills had annual revenue of $37,800, cost of goods sold of $23,200, and administrative expenses of $6,300. The firm paid $700 in dividends and had a tax rate of 35 percent. The firm added $2,810 to retained earnings. The firm had no long-term debt. What was the depreciation expense?Group of answer choices$1,780$2,900$2,300$1,520$2,640

A company reports net income of $9,700 for the year. During the year, the company reports an $1,140 loss from retirement of notes and a gain of $1,710 from the sale of equipment. Also, depreciation expense is $3,480. The only change in current assets and current liabilities was a $570 increase in inventory.Compute net cash provided by operating activities using the indirect method.Note: Amounts to be deducted should be indicated with a minus sign.

Operating expenses $ 45,000 Sales returns and allowances 13,000 Sales discount 6,000 Sales revenue 150,000 Costs of sales 77,000 The amount of net sales on the income statement would be:

If profit after tax and interest is $400,000, interest expense is $50,000 and taxation expense is $84,000, profit before interest and tax is:$291,000$484,000$450,000$534,000

Sanders Limited has a machine which cost $400 000 and has been depreciated by $80 000 to date. The accumulated depreciation for tax purposes is $160 000 and the company tax rate is 30%. The tax base of this asset is: Group of answer choices$96 000.$48 000.$240 000.$320 000.