Reference no: EM132739034
Madden, Company has projected its income before taxes for next year as shown below. Madden is subject to a 40% income tax rate.
Sales (160,000 units) P8,000,000
Cost of sales
Variable costs P 2,000,000
Fixed costs 3,000,000 5,000,000
Income before taxes P 3,000,000
Problem 1: Madden's net assets are P36,000,000. The peso sales that must be achieved for Madden to earn a 10 percent after tax return on assets would be
A. P8,800,000 C. P12,000,000
B. P16,000,000 D. P6,880,000
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