In the Current Year,ABC Corporation Had the Following Items of Income,expense,gains,and

question 8

Multiple Choice

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

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

---

Definitions:

Faculty of Music

An academic division or department within a college or university, specializing in the study of music and its performance.

Epidemiological Study

Research that studies the patterns, causes, and control of diseases in groups of people, aiming to identify risk factors and preventative measures.

Incidence

The number of new cases of a disease or condition that appear in a specific population within a certain period of time.

Prevalence

Prevalence refers to the proportion of a particular population found to be affected by a specific condition at a given time.