Builtrite had sales of $700,000 and COGS of $280,000.
In addition, operating expenses were calculated at 25% of sales.
Builtrite also received dividends of $40,000 and paid out common stock dividends of $25,000 to its stockholders.
term capital gain of $55,000 was realized during the year along with a capital loss of $70,000
Based on the above information, answer the following 4 questions:
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26 minutes, 32 seconds.
Question Completion Status:
What is Builtrite’s taxable income?