RECOMMENDED!!Talley Corporation Tax Liability, Income, and Tax Rates

  

Talley Corporation Tax Liability, Income, and Tax RatesIn its most recent financial statements, Newhouse Inc
reported 50 million of net income and 810 million of retained earnings. The
previous retained earnings were 780 million. How much in dividends was paid to
shareholders during the year?The Talley Corporation had a taxable income of 365,000 from
operations after all operating costs but before1. interest charges of 50,000,2. dividends received of 15,0003. dividends paid of 25,000 and4. income taxes.
What are the firm’s income tax liability and its after tax
income? What are the company’s marginal and average tax rates on taxable
income?

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