Final answer:
To find the net income of Green Grow Energies, Inc., we would subtract the taxes paid from the taxable income. Without the effective tax rate, we cannot provide an exact figure. An example calculation using a hypothetical 21% tax rate would result in a net income of $69,151,228.
Step-by-step explanation:
The student is asking about the net income of Green Grow Energies, Inc. after paying corporate income taxes on their reported taxable income of $87,533,200. To determine the net income, we need to know the effective tax rate, which varies by jurisdiction and typically considers various tax benefits. Unfortunately, without the specific tax rate or mention of the jurisdiction, we cannot calculate the exact net income. However, we can provide an example: if the effective tax rate was 21%, the amount of tax paid would be 21% of $87,533,200, which equals $18,381,972. Subtracting this from the taxable income would result in a net income of $69,151,228.
As an important note, the net taxable income for a corporate entity like Green Grow Energies is derived from profits, defined as annual income from activities such as solar energy delivery and biomass growth. Corporate income tax has become a smaller portion of the GDP over time, highlighting its significance and potential impact on a company's net profits.