Tina is the sole owner of tinas lawn mowing incorporated, Ask an Expert

Economics

Tina is the sole owner of Tina's Lawn Mowing, Incorporated (TLM). In one year, TLM collects $1,000,000 from customers to mow their lawns. TLM's equipment depreciates in value by $125,000. TLM pays $600,000 to its workers, who pay $140,000 in taxes on this income. TLM pays $50,000 in corporate income taxes and pays Tina a dividend of $150,000. Tina pays taxes of $60,000 on this dividend income. TLM retains $75,000 of earnings in the business to finance future expansion. How much does this economic activity contribute to each of the following?

a. GDP

b.NNP

c. National Income

d. Compensation of employees

e. Proprietors' income

f. Corporate profits

g. Personal income

h. Disposable personal income

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91720389

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