A P P E N D I X C
SELECTED EQUATIONS AND TABLES
Chapter 3
Stockholders’ equity! Paid-in capital " Retained earnings
Stockholders’ equity! Total assets # Total liabilities
Net working capital! Current assets # (Payables " Accruals)
Operating income (or EBIT)! Sales revenues # Operating costs
FCF! EBIT(1 # T) " Depreciation # (^)!
Capital
expenditur^ es^ "^ Incrwork^ ease in neting capital^ "^
Individual Tax Rates in April 2008
Single Individuals
If Your Taxable
Income Is
You Pay This
Amount on the
Base of the Bracket
Plus This Percentage
on the Excess over the
Base (Marginal Rate)
Average Tax
Rate at
Top of Bracket
Up to $7,825 $ 0 10.0% 10.0%
$7,825–$31,850 782.50 15.0 13.8
$31,850–$77,100 4,386.25 25.0 20.4
$77,100–$160,850 15,698.75 28.0 24.3
$160,850–$349,700 39,148.75 33.0 29.0
Over $349,700 101,469.25 35.0 35.0
Married Couples Filing Joint Returns
If Your Taxable
Income Is
You Pay This
Amount on the
Base of the Bracket
Plus This Percentage
on the Excess over the
Base (Marginal Rate)
Average Tax
Rate at
Top of Bracket
Up to $15,650 $ 0 10.0% 10.0%
$15,650–$63,700 1,565.00 15.0 13.8
$63,700–$128,500 8,772.50 25.0 19.4
$128,500–$195,850 24,972.50 28.0 22.4
$195,850–$349,700 43,830.50 33.0 27.0
Over $349,700 94,601.00 35.0 35.0
Corporate Tax Rates as of January 2008
If a Corporation’s
Taxable Income Is
It Pays This
Amount on the
Base of the Bracket
Plus This Percentage
on the Excess over the
Base (Marginal Rate)
Average Tax
Rate at
Top of Bracket
Up to $50,000 $ 0 15% 15.0%
$50,000–$75,000 7,500 25 18.3
$75,000–$100,000 13,750 34 22.3
$100,000–$335,000 22,250 39 34.0
$335,000–$10,000,000 113,900 34 34.0
$10,000,000–$15,000,000 3,400,000 35 34.3
$15,000,000–$18,333,333 5,150,000 38 35.0
Over $18,333,333 6,416,667 35 35.0