calculate taxable income for 2005:
this is related informaton given for 2005:
income statement:
sales 41,100
cogs (23,725)
GP 17375
SG&a (15,492)
EBIT 1883
TAXES 25%
Net income 1412
tax issues:
all 2005 assets purchases were made on 9/27/05
no estimated tax payments have been made since inception
use section 179 cost recovery for everything other then the building.
equipment 25,000 esltimed life 10yrs
furniture 4000 life 8 yrs
computers 6000 life 4yrs
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