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What is the applicable tax rate for nepal inc

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Reference no: EM132802815

Below is a list of income statement accounts for Nepal Inc. as of December 31, 2021:

Revenue    $5,960,000

Income tax Expense 875,625

Income tax payable 750,000

Profit 2,626,875

Other expenses 97,500

Salaries Expense 850,000

Supplies Expense 410,000

Interest Expense 1,100,000

Instructions

Problem 1: Present the income statement in the correct order

Problem 2: What is the applicable tax rate for Nepal Inc.?

Reference no: EM132802815

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