Your corporation just finished in 2019, its 4th year of business, and is finally making...
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Accounting
Your corporation just finished in 2019, its 4th year of business, and is finally making a profit. Taxable income/(loss) for the prior 3 years has been:
2016 2017 2018
Taxable Income/(loss) (60,000) (42,000) (20,000)
If your company had sales of $ 450,000 and expenses of $320,000 this year (2019), calculate your corporations taxable income this year.
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