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HMP Inc. reported the following information: Net sales (U.
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Question

HMP Inc. reported the following information: <br/><br/><br/>Net sales

(U.S. production)$550,000Cost of goods sold300,000Operating expenses100,000W-2 wages for the year(included in cost of goods sold and operating expenses)80,000


What is HMP's taxable income?
Question 2 options:


1) 
$136,500


2) 
$142,800


3) 
$150,000


4) 
$157,200

Step-by-step answer

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Subject: Accounting, Business

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