Determine what is topazs taxable income

Assignment Help Taxation

Reference no: EM13215954

Topaz Corporation had the following income and expenses during the current year:

Revenues $80,000
Expenses $30,000
Gains on sale of Capital assets $ 5,000
Losses on sale of Capital assets $(25,000)

What is Topaz's taxable income?

Reference no: EM13215954

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