Astrotech Company Case 1-3ASTROTECH COMPANYYear 1Year 2Year 3Year 4Sales$12,011.00$11,968.00$11,545.00$10,000.00Cost of Goods Sold$(3,011.00)$(2,992.00)$(2,886.00)$(2,500.00)Gross Margin$9,000.00$8,976.00$8,659.00$7,500.00Other Expenses$(6,201.00)$(6,429.00)$(6,296.00)$(5,454.00)Profit before taxes$2,799.00$2,547.00$2,363.00$2,046.00Tax expenses$(1,120.00)$(1,019.00)$(945.00)$(819.00)Net Income$1,679.00$1,528.00$1,418.00$1,227.00BY CALCULATING THE DIFFERENCE OF SALE AMOUNT EACH YEAR, WE WILL KNOW THE DIFFERENCE OF PERCENTAGE EACH YEAR.THE PERCENTAGE OF YEAR 4 IS 13,38%BASIC ACCOUNTING AQUATIONGROSS MARGIN=SALES REVENUES-COST OF SALESREVENUE/PROFIT-EXPENCES=NET INCOMEMICROTECH COMPANYYear 1Year 2Year 3Year 4Current Assets$113,624.00$90,442.00$85,124.00$60,090.00Noncurrent Assets$410,976.00$198,014.00$162,011.00$151,021.00Total Assets$524,600.00
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THE CABINET.COM CABINET.COM is a Delaware limited liability company incorporated in Delaware on May 15, 2004, and is registered as the “City of Boston”. In 2002, a Delaware law enacted by the Attorney General was amended to further the Department’s objectives of providing financial services to Massachusetts and the surrounding communities, and to provide for a regional financial services agency. The Connecticut Legislature passed the Connecticut Business and Economic Development Act of 2002 (CTA) (commonly called ‘Connecticut Business and Economic Development Act’). At the time of establishment, Capital of Greater New England Bank located in the city of Boston and other affiliated entities were also participating in the Commonwealth Business Program. The Business Code as amended and incorporated by this Act, as amended, defines a business as any one or more financial company with a gross amount greater than or equal to $0.0025 dollars for the purpose of operating the business.
A business has a minimum gross margin of 30% or less, and generally begins a business with a gross margin of 30%.
(a) In general.–In order to qualify for the Corporation Tax Credit, one must have at least 1% gross margin, as determined in accordance with section 3615.14, of the corporation taxed under section 941.13 of the Revised Code of Delaware. Under such section, a business may not engage in, or enter into, a business activity that involves a minimum gross margin of 30% or greater.
Effective Date.–The date of enactment of the Capital of Greater New England Business and Economic Development Act of 2002, as created and enacted by this Act, is the earlier of–
September 14, 1998 (30 days) and December 15, 2009 (48 days).
In order to become required to file an annual report required under section 3717.22 of the Revised Code of Delaware on Form 10-B, a taxpayer must file a separate annual report describing the results of the business, its financial condition under the provisions of the Capital of Greater New England Business and Economic Development Act of 2002 and required quarterly reports regarding expenditures of an amount within the applicable minimum wage and other income tax provisions of the following: