Assume that Blossom Company uses a periodic inventory system and has these account balances: Purchases $427,400; Purchase Returns and Allowances $10,300; Purchase Discounts $8,000; and Freight-in $18,000. Blossom Company has beginning inventory of $61,300, ending inventory of $91,600, and net sales of $642,400. Determine the amounts to be reported for cost of goods sold and gross profit.

Baskin promotions, inc. sells t-shirts decorated for a variety of concert performers. the company has developed the following budget for the coming year based on a sales forecast of 80,000 t-shirts: sales $ 1,400,000 cost of goods sold 820,000 gross profit 580,000 operating expenses ($100,000 is fixed) 418,400 operating income 161,600 income taxes (30% of operating income) 48,480 net income $ 113,120 cost of goods sold and variable operating expenses vary directly with sales, and the income tax rate is 30% at all levels of operating income. if the concert season is slow due to poor weather, baskin estimates that sales could fall to as low as 60,000 t-shirts. assume baskin actually achieves the 60,000 unit sales level, and that net income actually earned at this level was $70,000. a performance report would indicate that net income was:

When paid interest is started as a dollar amount is called

Sarah, a self-employed blogger, has adjusted gross earnings of $45,162 this year. find the amount of social security and medicare taxes paid by sarah.