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Interest versus dividend income during the year just ended, shering distributors, inc., had pretax earnings from operations of $ 486 comma 000. in addition, during the year it received $ 23 c
Interest versus dividend income during the year just ended, shering distributors, inc., had pretax earnings from operations of $ 486 comma 000. in addition, during the year it received $ 23 comma 000 in income from interest on bonds it held in zig manufacturing and received $ 23 comma 000 in income from dividends on its 5 % common stock holding in tank industries, inc. shering is in the 40 % tax bracket and is eligible for a 70 % dividend exclusion on its tank industries stock.a. calculate the firm's tax on its operating earnings only.b. find the tax and the after-tax amount attributable to the interest income from zig manufacturing bonds.c. find the tax and the after-tax amount attributable to the dividend income from the tank industries, inc., common stock.d. compare, contrast, and discuss the after-tax amounts resulting from the interest income and dividend income calculated in parts
b. and
c.e. what is the firm's total tax liability for the year?