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Rate | Taxable Income Bracket | Tax Owed |
---|---|---|
10% | $0 to $9,525 | 10% of taxable income |
12% | $9,526 to $38,700 | $952.50 plus 12% of the amount over $9525 |
22% | $38,701 to $82,500 | $4,453.50 plus 22% of the amount over $38,700 |
24% | $82,501 to $157,500 | $14,089.50 plus 24% of the amount over $82,500 |
32% | $157,501 to $200,000 | $32,089.50 plus 32% of the amount over $157,500 |
35% | $200,001 to $500,000 | $45,689.50 plus 35% of the amount over $200,000 |
37% | $ 500 , 001 + | $150,689.50 plus 37% of the amount over $500,000 |
Item | Sub-Item | Sub-Item | 2018 | 2017 | Increase (Decrease) |
---|---|---|---|---|---|
Assets | Current Assets: | Cash | $22,000 | $42,000 | $(20,000) |
Accounts Receivable | $90,000 | $73,000 | $17,000 | ||
Merchandise Inventory | $143,000 | $145,000 | $(2,000) | ||
Long-term Assets: | Plant Assets | $507,000 | $252,000 | $255,000 | |
Accumulated Depreciation--Plan Assets | $(47,000) | $(42,000) | $(5,000) | ||
Total Assets: | $715,000 | $470,000 | $245,000 | ||
Liabilities | Current Liabilities: | Accounts Payable | $90,000 | $50,000 | $40,000 |
Accrued Liabilities | $5,000 | $10,000 | $(5,000) | ||
Long-term Liabilities: | Notes Payable | $160,000 | $80,000 | $80,000 | |
Total Liabilities | $255,000 | $140,000 | $115,000 | ||
Stockholder's Equity | Common Stock, no par | $370,000 | $250,000 | $120,000 | |
Retained Earnings | $110,000 | $80,000 | $30,000 | ||
Treasury Stock | $(20,000) | $0 | $(20,000) | ||
Total Stockholder's Equity | $460,000 | $330,000 | $130,000 | ||
Total Liabilities and Stockholder's Equity | $715,000 | $470,000 | $245,000 |