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Crimson Corportion owns 50% of Red Corporation. Crimson Corporation has the following facts Sales 150,000...

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Accounting

Crimson Corportion owns 50% of Red Corporation. Crimson Corporation has the following facts

Sales 150,000

Dividend income received from Red 30,000

Cost of goods sold 25,000

Wages 40,000

Utilities 4,000

Calculate Crimson Corporation's taxable income (loss)

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