Mason Construction Inc

question 3

Multiple Choice

Mason Construction Inc.had net sales of $480,000,costs of sales of $130,000,additional expenses of $200,000,depreciation of $40,000,and a tax rate of 30%.Use this information to determine the firm's after tax earnings on a cash basis.

• A)$77,000
• B)$105,000
• C)$117,000
• D)$145,000

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Definitions:

Accounting Records

Documents and books that keep systematic financial data and transactions of a person, company, or entity.

Ethical Lapses

Instances where individuals or organizations fail to act in accordance with their moral or ethical standards.

Civil Prosecution

A legal process initiated by a private party, rather than the state, to seek remedy for a wrong that is believed to have been done to them.

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