Biology Forums - Study Force

Westwind Corporation reports the following results for the current year:

Gross profit on sales   $250,000
Long-term capital gain   25,000
Long-term capital loss   10,000
Short-term capital gain   7,500
Short-term capital loss   12,500
Operating expenses   80,000

What are Westwind's taxable income and regular tax liability before credits for the current year?

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