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undefined Q6. A company that services trucks had sales revenues of $5,750,000 during tax...

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Q6. A company that services trucks had sales revenues of $5,750,000 during tax year 2016. In that year they also had the following costs: Labor costs Material costs Depreciation Debt interest expenses Rental expenses $1,200,000 $785,000 $470,000 $63,000 $53,000 They also sold a number of old trucks for $55,000. These sold trucks had a combined book value at time of sale of $41,000. (a) What is the company's taxable income for 2016? (b) What are the company's taxable gains for 2016? (c) Determine the income taxes and gains taxes (or losses) in that year assuming that both capital gains and ordinary incomes are taxed at 35%

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