Reference no: EM13690420

Quince Company has a book income of $120,000 properly determined in accordance with financial accounting principles. The following information is also available:
The company received a $10,000 dividend from a large publicly traded domestic corporation of which it owns less than 20%.
Income tax expense on the financial statements was $30,000
Depreciation expense on the financial statement is $25,000 less than depreciation expense determined using tax laws.
The company received life insurance proceeds of $15,000.
Charitable contributions of $20,000 were made.
Determine the taxable income of Quince Company.
I not sure if the two figures I did is correct. $105,000 or $75,000