In The Current Year Abc Corporation Had The Following Items Of Income Expense Ga

1. In the current year, ABC Corporation had the following items of income, expense, gains, and losses:$500,000$270,000$100,000$14,000$ 6,000$15,000What is the taxable income for the year?a) 135,000b) 141,000c) 144,000d) 150,0002. Topaz Corporation had the following income and expenses during the current year:$80,000$30,000$ 5,000Losses on sale of Capital assets $(25,000)What is Topaz’s taxable income?a) $30,000b) $50,000c) $52,000d) $20,000

 

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