Gross Profit = $145000
It can be solved with two methods one is by making reverse Income Statement or with the use of equations
<u>Net Income 29500</u>
Income Tax Expense 52500
Other expenses:
Loss from sale of investment 93000
Interest Expense 85000
<u>Income from Operations 260000</u>
Operating expenses 405000
<u>Gross Profit 145000</u>
Net sales 1200000
What is Gross Profit?
Gross profit is determined by deducting opening stock, purchase and direct expenses from sales and closing stock. It can also be determined by deducting cost of goods from sales.
GROSS PROFIT = Sales - Direct expenses
The sale value of your goods less the cost of manufacturing it is your gross profit. It's the sale price of your services less the cost of a time it took to complete the task for a service-based business. Total sales (sometimes referred as the revenue or turnover) less the total cost of goods sold is another term for gross profit.
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laborers strike for better wages -- free enterprise
government has some effect on the economy -- free enterprise (if it is ONLY some... if it is total control it is communism).
producers set wages -- free enterprise
consumers decide what is produced -- free enterprise
natural resources are used in production -- both
Answer:
Contact the IRS to see if there is a payment plan that works for you.
Explanation:
In a situation where someone determines that they cannot pay the tax liability, it is advisable to still file the tax return by the stipulated deadline. Additionally, contact the Internal Revenue Services(IRS) and explain your situation; they most likely have other payment plans that would work for you. Ignoring the tax bill and hoping that IRS will overlook it can lead to penalty; this might be very costly.
Answer:
Old Stock
Explanation:
The Dividend Reinvestment Plan is a platform where investors or shareholders in a company, reinvest the dividends they gained into more shares sold by the same company, most times without having to pay commissions.
Under the <em>Old stock dividend reinvestment plan, </em>an outside trustee, that is, a member of the board who is not an officer in the company, repurchases the company's existing shares in the stock market and then allocates the shares purchased among the stockholders. They sell the shares at market price. Most times, in order to encourage shareholders participation the company making the repurchase takes care of the commission fees.
