Q1centennial brewery produced revenues of 1145227 in 2008

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Reference no: EM13355587

Q1.Centennial Brewery produced revenues of $1,145,227 in 2008. It has expenses (excluding depreciation) of $812,640, depreciation of $131,335, and interest expense of $81,112. It pays a marginal tax rate of 34 percent. What is the firm's net income after taxes?

a.$120,140
b.$248,475
c.$79,292
d.$40,848

Q2.Triumph Trading Company provided the following information to its auditors. For the year ended March 31, 2008, the company had revenues of $1,122,878, operating expenses (excluding depreciation and leasing expenses) of $612,663, depreciation expenses of $231,415, leasing expenses of $126,193, and interest expenses equal to $87,125. If the company's tax rate was 34 percent, what is its net income after taxes?
a.$43,218
b.$65,482
c.$152,607
d.none of the above

Reference no: EM13355587

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