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3 October, 03:53

Tantor Supply, Inc., is a small corporation acting as the exclusive distributor of a major line of sporting goods. During 2018 the firm earned $ 90 comma 000 before taxes. a. Calculate the firm's tax liability using a flat tax rate of 24 %. b. How much are Tantor Supply's 2018 after-tax earnings?

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  1. 3 October, 05:52
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    Tantor supply after-tax income 68,400

    Explanation:

    Tantor Supply's pre-tax income = 90,000 dollars

    tax rate: 24% = 24/100 = 0.24

    before tax income x tax-rate = tax income expense

    90,000 x 0.24 = 21,600 tax expense

    before tax - tax income expense = net income

    90,000 - 21,600 = 68,400

    Tantor's Supply after tax income 68,400
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Home » Business » Tantor Supply, Inc., is a small corporation acting as the exclusive distributor of a major line of sporting goods. During 2018 the firm earned $ 90 comma 000 before taxes. a. Calculate the firm's tax liability using a flat tax rate of 24 %. b.
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