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What is the applicable tax rate for Nepal Inc

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Reference no: EM132614742

Question - Below is a list of income statement accounts for Nepal Inc. as of December 31, 2021:

Revenue $5,960,000

Income tax Expense 875,625

Income tax payable 750,000

Profit 2,626,875

Other expenses 97,500

Salaries Expense 850,000

Supplies Expense 410,000

Interest Expense 1,100,000

Instructions -

a) Present the income statement in the correct order.

b) What is the applicable tax rate for Nepal Inc.

Reference no: EM132614742

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