The following information is provided from EZ Electronics' annual report for the years ended December 31:
-Refer to the EZ Electronics annual report above.Using vertical analysis,2011 net income would be represented as ________.
Definitions:
Medicare Taxes
Federal taxes that fund Medicare, deducted from employees' paychecks and matched by employers.
Effective Federal Tax Rate
The average rate at which an individual or a corporation is taxed by the federal government, calculated by dividing the total tax paid by taxable income.
Tax-Deferred Retirement
Investment accounts, like 401(k)s or IRAs, that allow earnings to grow tax-free until funds are withdrawn, usually during retirement.
Flexible Spending Account
A type of savings account, usually for healthcare or dependent care expenses, that offers tax advantages by using pre-tax dollars.
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