What is topaz taxable income

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Reference no: EM131988746

Question - 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?

a) $30,000

b) $50,000

c) $52,000

d) $20,000

Reference no: EM131988746

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