Hambone Corporation is subject to the State E capital stock tax.The tax is levied at 2% of the entity's net worth that is apportioned to E.Hambone conducts 30% of its operations in State E.Hambone's current book balance sheet is as follows,with amounts in millions.Compute Hambone's liability for the E capital stock tax. Cash $ 40 Payables $ 50 Receivables 20 Mortgages,principal 400 Equipment,net of accumulated depreciation 140 Common stock 10 Buildings,net of accumulated depreciation 300 Additional paid-in capital 190 Land 250 Retained earnings 100 Total assets $750 Total liabilities and equity $750

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The Answer of Hambone Corporation is subject to the State E capital stock tax.The tax is levied at 2% of the entity's net worth that is apportioned to E.Hambone conducts 30% of its operations in State E.Hambone's current book balance sheet is as follows,with amounts in millions.Compute Hambone's liability for the E capital stock tax. Cash $ 40 Payables $ 50 Receivables 20 Mortgages,principal 400 Equipment,net of accumulated depreciation 140 Common stock 10 Buildings,net of accumulated depreciation 300 Additional paid-in capital 190 Land 250 Retained earnings 100 Total assets $750 Total liabilities and equity $750

Hambone Corporation Is Subject to the State E Capital Stock