Create an Excel worksheet in which you show the pre-tax earnings, the taxes paid, the earnings after taxes for corporate. 1) Corporate pays corporate…

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Create an Excel worksheet in which you show the pre-tax earnings, the taxes paid, the earnings after taxes for corporate.1) Corporate pays corporate tax rate of 30%. After paying corporate taxes the rest is distributed as dividends to owners. They pay personal tax on these dividends at the rate 18%. Pretax income = $500,000

ParticularsPre Tax IncomeLess – Corporate taxEarnings after taxDividends distributedLess – Personal taxesNet Income Amount ($)500,000150,000350,000350,00063000287,000

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