Coronasux, Inc. had revenue of $500,000, COGS of $375,000, Operating expenses of $50,000, purchase of fixed assets of $85,000, dividends of $4,000, a loss from discontinued operations of $10,000 and an unrealized gain from available for sale securities of $20,000. All of the preceding numbers are pre-tax and there is a tax rate of 25%. Based upon these facts (there will be a lot of questions with these facts, consider jotting them down): 

WHAT IS CORONASUX' TOTAL TAXES ON THE INCOME STATEMENT (ignoring intro-period ta- allocation; the total tax regardless of what section it sits in)?

Answer rating: 100% (QA)

Coronasux Net Income Revenue 500000 Less Cost of goods sold 3... View the full answer