FIN-623 TAXATION-MANAGEMENT ASSIGNMENT # 1 SOLUTION fall 2010

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Solution:
Bussiness Income
Sales 11,250,000
Less Cost of Sales
Market value of self produced raw material 3,750,000
Raw material purchased 2,250,000
Manufacturing expenses 1,125,000

Gross Profit 7,125,000
Less operating expense 4,125,000
Selling expense 750,000
Administration expenses 1,275,000
Financial expenses 375,000

Net profit from business 1,725,000


Agricultural income
Good produced and used as raw material 3,750,000
Less agricultural Expense 1,500,000
Net agricultural income 2,250,000