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Augustus1 Augustus1
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Posts: 1894
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7 years ago
In the current year, ABC Corporation had the following items of income, expense, gains, and losses:

Sales   $500,000
Cost of sales   270,000
Operating expenses   100,000
Interest on savings account   14,000
Gain on sale of AT&T stock   6,000
Loss on sale of IBM stock   15,000

What is taxable income for the year?
A) $135,000
B) $141,000
C) $144,000
D) $150,000
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
Authors:
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We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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Yoko900Yoko900
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#1
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Posts: 1876
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7 years ago
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Augustus1 Author
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#2
7 years ago
Your explanation helped, amazing amazing!
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
wrote...
#3
4 years ago
thank you
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