Permtemp corporation | Accounting homework help
Permtemp Corporation formed in 2011 and, for that year, reported the following book income statement and balance sheet, excluding the federal income tax expense, deferred tax assets, and deferred tax liabilities: Sales $20,000,000 Cost of goods sold ) Gross profit $ 5,000,000 Dividend income 50,000 Tax-exempt interest income Total income $ 5,065,000 Expenses: Depreciation $ 800,000 Bad debts 400,000 Charitable contributions 100,000 Interest 475,000 Meals […]