Builtrite had sales of $5,500,000. COGS totaled $1,400,000. Operating expenses were $1,100,000 and interest expense...
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Builtrite had sales of $5,500,000. COGS totaled $1,400,000. Operating expenses were $1,100,000 and interest expense was $335,000. Stock purchased for $37,500 was sold 15 months later for $30,500. Management paid a $500,000 common stock dividend and a $180,000 preferred stock dividend. Builtrite also received $100,000 in dividend income. What is Builtrite's taxable income? 1985000 2658000 2665000 2695000 2765000
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