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Tax on income progressive-regressive or proportional

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1.Joe Smith earned $50,000 and paid taxes of $10,000. Mary Miller earned $60,000 and paid taxes of $12,000. If these taxes were paid to the same government agency, is the tax on income progressive, regressive, or proportional? Why did you reach this conclusion?

Answer ______________

2.If a firm has $400,000 in credit sales and $80,000 in average accounts receivable its accounts receivable turnover is Blank 1 times and its approximate average day's collections are Blank 2 days.
(Whole numbers, no decimals ).

Answer ___________

Reference no: EM133002951

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