Answer:
D. $952
Explanation:
The computation of the net income in the case when the LIFO is elected
Particulars AMount
Net sales $7,232 ($8,000 - $640 - $128)
less : cost of goods sold ($6,200 - $820) $5,380
Gross Profit $1,852
Less: Operating Expenses $900
Income before taxes $952
less: Income tax $0
Net income $952
Hence, the net income is $952
A AND B ok? Got it? Comment if you need anything
Answer:D
Explanation: so other employees have more experience and will be able to help around the office more
The correct answer is; Henry can claim Ethan and James as the qualifying children for earned income credit.
Further Explanation:
Since the children did not provide over half their support and are of qualifying age, they can be claimed on taxes for the earned income credit. Since the father is the one who took care of the children for the entire year, he can claim them on his taxes.
If Henry and Charlotte were still together then the income would be to high for the earned income credit. Since Henry only earned $13,000 he does qualify for this credit. He will get back all the money he paid in plus the earned income and also a child dependent credit.
Learn more about earned income credit at brainly.com/question/8520746
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