Allmond corporation, organized on january 3, 2018, had pretax accounting income of $14 million and taxable income of $20 million for the year ended december 31, 2018. the 2018 tax rate is 35%. the only difference between accounting income and taxable income is estimated product warranty costs. expected payments and scheduled tax rates (based on recent tax legislation) are as follows: 2019 $ 2 million 30 % 2020 1 million 30 % 2021 1 million 30 % 2022 2 million 25 %

required:
1. determine the amounts necessary to record allmond’s income taxes for 2018 and prepare the appropriate journal entry.
2. what is allmond’s 2018 net income?

Lucido products markets two computer games: claimjumper and makeover. a contribution format income statement for a recent month for the two games appears below: claimjumper makeover total sales $ 30,000 $ 70,000 $ 100,000 variable expenses 20,000 50,000 70,000 contribution margin $ 10,000 $ 20,000 30,000 fixed expenses 24,000 net operating income $ 6,000 required: 1. compute the overall contribution margin (cm) ratio for the company.. 2. compute the overall break-even point for the company in dollar sales. 3. complete the contribution format income statement at break-even point for the company showing the appropriate levels of sales for the two products. (do not round intermediate calculations.)