Consider the following income statement for kroger inc. (all figures in $ millions):
year 2006 2005 2004
total sales 60,553 56,434 53,791
cost of goods sold 45,565 42,140 39,637
selling, general & admin expenses 11,688 12,191 11,575
depreciation 1,265 1,256 1,209
operating income 2,035 847 1,370
other income 0 0 0
ebit 2,035 847 1,370
interest expense 510 557 604
earnings before tax 1,525 290 766
taxes (35%) 534 102 268
net income 991 189 498
the interest rate tax shield for kroger in 2006 is closest to:
a) $187 million
b) $332 million
c) $534 million
d) $179 million

Anderson, a computer engineer, and spouse, who is unemployed, provide more than half of the support for their child, age 23, who is a full-time student and who earns $7,000. they also provide more than half of the support for their older child, age 33, who earns $2,000 during the year. how many dependents may the andersons claim on their joint tax return?

Tara incorporates her sole proprietorship, transferring it to newly formed black corporation. the assets transferred have an adjusted basis of $240,000 and a fair market value of $300,000. also transferred was $10,000 in liabilities, $1,000 of which was personal and the balance of $9,000 being business related. in return for these transfers, tara receives all of the stock in black corporation. a. black corporation has a basis of $241,000 in the property. b. black corporation has a basis of $240,000 in the property. c. tara’s basis in the black corporation stock is $241,000. d. tara’s basis in the black corporation stock is $249,000. e. none of the above.

You speak to a business owner that is taking in almost $2000 in revenue each month. the owner still says that they are having trouble keeping the doors open. how can that be possible? use the terms of revenue, expenses and profit/loss in your answer