National geographic is replacing an old printing press with a new one. the old press is being sold for $350,000 and it has a net book value of $75,000. assume that national geographic is in the 30% income tax bracket. what is the tax implication of the proceed of the sale of the old press? round to the nearest penny. if tax liabilities, type a negative sign in front. do not include a dollar sign in your answer. (i. e. if your answer is tax liabilites of $8,765,43, type -8765.43; if tax shield of $8,765.43, type 8765.43).

Transactions that affect earnings do not necessarily affect cash. identify the effect, if any, that each of the following transactions would have upon cash and net income. the first transaction has been completed as an example. (if an amount reduces the account balance then enter with negative sign preceding the number e. g. -15,000 or parentheses e. g. (15, cash net income (a) purchased $120 of supplies for cash. –$120 $0 (b) recorded an adjustment to record use of $35 of the above supplies. (c) made sales of $1,370, all on account. (d) received $700 from customers in payment of their accounts. (e) purchased equipment for cash, $2,450. (f) recorded depreciation of building for period used, $740. click if you would like to show work for this question: open show work