Business, 22.04.2021 21:20 JulietteRosso995

and sells $400,000 worth of books, magazines, and other reading materials in a given year. She earns a profit of $100,000 that year. Her purchase invoices indicate that she bought $100,000 worth of glue, paper, and other materials during the year. Her labor costs were $150,000, and she purchased $45,000 of new equipment that year. Calculate her tax liability under a 12% consumption-type, value-added tax (Note: Assume for the purposes of this VAT calculation that labor costs are excluded).

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and sells $400,000 worth of books, magazines, and other reading materials in a given year. She earns...

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