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toomey corporation has gross receipts from operations of $109,000 and operating expenses of $110,000. Toomey...

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Accounting

toomey corporation has gross receipts from operations of $109,000 and operating expenses of $110,000. Toomey corporation recieved a $60,000 dividend from a corporation in which it owns 20% of the stock. What is Toomey Corporations taxable income for the year?

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