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umka2103 [35]
3 years ago
12

In its first year of operations Best Corp. had income before tax of $540,000. Best made income tax payments totaling $177,000 du

ring the year and has an income tax rate of 30%. What was Best's net income for the year?
Business
1 answer:
hodyreva [135]3 years ago
8 0

Answer:

$378,000

Explanation:

Best Corp. has income before tax of $540,000.

The tax rate is 30%.  the amount of tax will be 30% of $540,000.

= 30/100 x $540,000

=0.3 x 540,000

=$162,000

Tax amount = $162,000.

Net income =  Income before tax - tax amount

=$540,000 - $162,000

=$378,000

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