Company taxable income and tax liability

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Reference no: EM131087598

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

Reference no: EM131087598

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