The Following Summarizes Information Relating to Gonzalez Corporation's Operations for the Current
The following summarizes information relating to Gonzalez Corporation's operations for the current year. 
Required:
Compute the amount of taxes payable and income tax expense for Gonzalez Corporation.
Definitions:
Automobile Insurance
Insurance coverage for cars, trucks, motorcycles, and other road vehicles, providing protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise therefrom.
Key-Person Insurance
A life insurance policy on a key employee whose death would cause a financial loss to the business.
Homeowners' Insurance
An insurance policy that provides financial protection against losses and damages to an individual's home and assets in the home.
Insurable Interest
A requirement for purchasing insurance, denoting the policyholder must stand to lose financially if the insured event occurs.
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