Question

Garry surveyed his company and got the following financial data as shown in the table. Income tax is
paid from the Profit Before Tax and the remaining amount of the profit, after the tax is paid, is
distributed in Dividends and Retained Eamings shown in the table.
Note: All the values given in the table below are in thousand dollars. ($'000)
2011
2012
2013
2014
Financial Component
Share Capital
Sales
28
11
900
500
300
360
Profit Before Tax
80
50
20
33
Dividends
11
5
T
Retained Earnings
45
26
18
The Income Tax as a percentage of the Profit Before Tax was the lowest in which year?​

Answer 1

Answer:

2014 is the year

Step-by-step explanation:

Garry conducted a poll within his business and obtained the financial information listed below. The Profit Before Tax is used to pay Income Tax, whereas the Profit After Tax is used to pay other expenses.

distributed as reflected in the table's Dividends and Retained Earnings.

The figures listed in the table below are all expressed in thousand dollars. ($'000)

Financial Component Share Capital Sales 28 11 900 500 300 360 in 2011 2012 2013

Income Before Taxes 80 50 20 33

Retained Earnings 45 26 18 Dividends 11 5 T

Income taxes are levied against both businesses and individuals (or family units). Based on the income received, individual income taxes are calculated. Typically, it is categorised as a direct tax because the burden is thought to fall on the people who pay it. Net profits, calculated as the excess of receipts over permitted costs, are subject to corporate income tax.

Beginning in Great Britain towards the end of the 18th century, the individual income tax has served as a tool of national policy in several nations at various junctures. By 1914, a number of nations had begun to view the "personal" income tax as a tool for enacting social transformation through income redistribution in addition to being a significant revenue source.

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