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Carter Corporation Reports the Following Results for the Current Year

question 51

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Carter Corporation reports the following results for the current year:
 Gross profits on sales $660,000 Dividends from less than 20%-owned corporations 300,000 Operating expenses 650,000\begin{array}{ll}\text { Gross profits on sales } & \$ 660,000 \\\text { Dividends from less than } 20 \% \text {-owned corporations } & 300,000 \\\text { Operating expenses } & 650,000\end{array}
a) What is Carter Corporation's taxable income for the current year?
b) How would your answer to Part (a) change if Carter's operating expenses are instead $700,000?
c) How would your answer to Part (a) change if Carter's operating expenses are instead $760,000?

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