What is the corporations pretax financial accounting income

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A corporation has gross revenue from sales of $289,000, cost of sales of $98,000, a Section 179 deduction of $20,000 (financial depreciation = $5,000), operating expenses of $122,000, and a Section 1231 gain of $21,000 on the sale of some machinery (the gain is only $14,000 for financial accounting).

a. What is the corporation's taxable income?

b. What is the corporation's pretax financial accounting income?

Reference no: EM13539807

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