A Company had total assets and total liabilities at the begi…

A Company had total assets and total liabilities at the beginning of the period of $7,300,000 and $4,000,000, respectively. At the end of the period the totals were $8,000,000 (total assets) and $3,600,000 (total liabilities). The company issued Common Stock for $600,000 and paid dividends of $250,000. What was the net income for the period if there were no other changes affecting Stockholders’ Equity?

ABC Inc., a calendar year retailer that sold ice skates, had…

ABC Inc., a calendar year retailer that sold ice skates, had the following amounts at December 31, 2020: Net Sales $938,500 COGS 475,300 Operating Expenses 123,700 Other Income and (expense) 10,200 Other Comprehensive Loss (4,400) Current taxes payable 20,800 Net Income 221,900 What was ABC’s provision for income taxes?