The vertical analysis of the income statement of settler, inc. is as shown below: (in millions) 2019 percent of total 2018 percent of total net sales $6,355 100.0% $4,920 100.0% cost of goods sold 3,370 53.0 2,200 44.7 gross profit 2,985 47.0 2,720 55.3 operating expenses: selling expenses 675 10.6 580 11.8 administrative expenses 410 6.5 425 8.6 total operating expenses 1,085 17.1 1,005 20.4 operating income 1,900 29.9 1,715 34.9 other income and (expenses): interest expense (400) (6.3) (695) (14.1) total other income and (expenses) (400) (6.3) (695) (14.1) income before income taxes 1,500 23.6 1,020 20.7 income tax expense 230 3.6 210 4.3 net income $1,270 20.0% $810 16.5% the 20% shown for net income in 2019 signifies that net income

1tanner invested $135,000 cash along with office equipment valued at $32,400 in the company in exchange for common stock. 2 the company prepaid $7,200 cash for 12 months’ rent for office space. (hint: debit prepaid rent for $7,200.) 3 the company made credit purchases for $16,200 in office equipment and $3,240 in office supplies. payment is due within 10 days. 6 the company completed services for a client and immediately received $2,000 cash. 9 the company completed a $10,800 project for a client, who must pay within 30 days. 13 the company paid $19,440 cash to settle the account payable created on april 3. 19 the company paid $6,000 cash for the premium on a 12-month insurance policy. (hint: debit prepaid insurance for $6,000.) 22 the company received $8,640 cash as partial payment for the work completed on april 9. 25 the company completed work for another client for $2,640 on credit. 28 the company paid $6,200 cash in dividends. 29 the company purchased $1,080 of additional office supplies on credit. 30 the company paid $700 cash for this month’s utility bill. prepare general journal entries to record these transactions. 2. post the journal entries from part 1 to the ledger accounts.

What is the state tax rate for a resident of arizona whose annual taxable income is $18,000?

Abank has $132,000 in excess reserves and the required reserve ratio is 11 percent. this means the bank could have in checkable deposit liabilities and in (total) reserves.