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  1. business
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  3. nguyen corp. had pretax financial income of $316,0

Nguyen Corp. had pretax financial income of $316,091 for 2021. The company is subject to...

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Accounting

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Nguyen Corp. had pretax financial income of $316,091 for 2021. The company is subject to a 30% tax rate. The following differences between financial and taxable income occurred during the year. . Nguyen paid $20,000 fines for violating traffic laws. The amount paid is not an allowable deduction for tax purposes. Nguyen received $36,000 rent in advance for a building it owns and rents out. The amount received (which covers 2022 and 2023) is taxable in the current year (2021). Nguyen made credit sales of $15,000 which is not taxable until it is collected in 2022. What is Nguyen's taxable income for the current year (2021)

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