The following information is taken from the income statement of Olympic, Inc.: Depreciation Expense $ 90,000 Amortization Expense 15,000 Loss on Sale of Equipment 9,000 Gain on Sale of Building 27,000 Net Income 315,000 Based on this information, what is the amount of net cash flow provided by operating activities?A. $420000 B. $447000 C. $438000 D. $402000

Refers to the way we conduct ourselves

You are chairman of the board of a successful technology firm. there is a nominal federal corporate tax rate of 35 percent, yet the effective tax rate of the typical corporation is about 12.6%. your firm has been clever with use of transfer pricing and keeping money abroad and has barely paid any taxes over the last 5 years; during this same time period, profits were $28 billion. one member of the board feels that it is un-american to use various accounting strategies in order to avoid paying taxes. others feel that these are legal loopholes and corporations have a fiduciary responsibility to minimize taxes. one board member quoted what the ceo of exxon once said: “i’m not a u.s. company and i don’t make decisions based on what’s good for the u.s.” what are the alternatives? what are your recommendations? why do you recommend this course of action?

Chuck, a single taxpayer, earns $80,750 in taxable income and $30,750 in interest from an investment in city of heflin bonds. (use the u.s. tax rate schedule.) (do not round intermediate calculations. round your answers to 2 decimal places.)