Compute the net income before taxes

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Reference no: EM132069139

Compute the net income before taxes and then compute the corporate taxes for the ABC Inc. for the year of 2017 given the following:

The ABC Inc. had a sales of $250,000 in 2017and their labor expenses were $80,000. The company also reported $2,000 for local advertising, $3,000 for employee training and acquire a loan from Credit Union of $12,000 at the interest of 6% for their expansions. The company also had an investment in XYZ Inc and received dividends of $3,000 in 2017.

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Reference no: EM132069139

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