In the Current Year, ABC Corporation Had the Following Items

question 135

Multiple Choice

In the current year, ABC Corporation had the following items of income, expense, gains, and losses: $\begin{array}{|l|r|}\hline\text { Sales } & \$ 500,000 \\\hline \text { Cost of sales } & 270,000 \\\hline \text { Operating expenses } & 100,000 \\\hline \text { Interest on savings account } & 14,000 \\\hline \text { Gain on sale of AT\&Tstock } & 6,000 \\\hline \text { Loss on sale of IBM stock } & 15,000\\\hline\end{array}$ What is taxable income for the year?

• A) $135,000
• B) $141,000
• C) $144,000
• D) $150,000

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Definitions:

Anger

A strong feeling of annoyance, displeasure, or hostility.

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The body's method of reacting to a challenge or demand, often leading to physical or emotional tension.

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A type of fat found in the blood that is essential for building cells and hormones, but high levels of which can lead to heart disease.