Company taxable income and tax liability

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Reference no: EM131101830

The Dana Flatt Corporation had sales of $2 million this past year. Its COGS was 1.2 million and its operation expenses were $400,000. Interest expenses on outstanding debt were $ 164,000 and the company paid $40,000 in stock dividends. It's tax rate is 34%. What was the company's taxable income and tax liability (taxes paid).

Reference no: EM131101830

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Company taxable income and tax liability : The Dana Flatt Corporation had sales of $2 million this past year. Its COGS was 1.2 million and its operation expenses were $400,000. Interest expenses on outstanding debt were $ 164,000 and the company paid $40,000 in stock dividends. It's tax ra..

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