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Compute the corporation current earning and profit

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Question - Oakland Corporation reported a net operating loss of $500,000 in 20x3 and decided to carry forward to 20x4. Not included in the computation was a disallowed meals and entertainment expense of 20,0000 tax exempt income of 10,000 and deferred gain on installment sale of 250000. The corporation's current earning and profit for 20x3 would be?

Reference no: EM132101330

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