Kathleen, age 56, works for mh, inc., in dallas, texas. kathleen contributes to a roth 401(k) and mh contributes to a traditional 401(k) on her behalf. kathleen has contributed $40,800 to her roth 401(k) over the past six years. the current balance in her roth 401(k) account is $68,000 and the balance in her traditional 401(k) is $52,000. kathleen needs cash because she is taking a month of vacation to travel the world. answer the following questions relating to distributions from kathleen’s retirement accounts assuming her marginal tax rate for ordinary income is 24 percent. a. if kathleen receives a $17,500 distribution from her traditional 401(k) account, how much will she be able to keep after paying taxes and penalties, if any, on the distribution?

Milden company has an exclusive franchise to purchase a product from the manufacturer and distribute it on the retail level. as an aid in planning, the company has decided to start using a contribution format income statement. to have data to prepare such a statement, the company has analyzed its expenses and has developed the following cost formulas: cost cost formula cost of good sold $35 per unit sold advertising expense $210,000 per quarter sales commissions 6% of sales shipping expense ? administrative salaries $145,000 per quarter insurance expense $9,000 per quarter depreciation expense $76,000 per quarter management has concluded that shipping expense is a mixed cost, containing both variable and fixed cost elements. units sold and the related shipping expense over the last eight quarters follow: quarter units sold shipping expense year 1: first 10,000 $ 119,000 second 16,000 $ 175,000 third 18,000 $ 190,000 fourth 15,000 $ 164,000 year 2: first 11,000 $ 130,000 second 17,000 $ 185,000 third 20,000 $ 210,000 fourth 13,000 $ 147,000 milden company’s president would like a cost formula derived for shipping expense so that a budgeted contribution format income statement can be prepared for the next quarter. required: 1. using the high-low method, estimate a cost formula for shipping expe