Answer to Question #14224 in Math for dara

Question #14224

calculate the taxable income for the johnson Company given that the company paid taxes for the year of $53,350. how do i work backwards to figure out what the companies initial taxable income was?

Expert's answer

$53,350 is 40% of total income
Thus total income = $53,350/40%*100%=$ 133 375

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