In Its First Taxable Year,Platform,Inc

question 51

Multiple Choice

In its first taxable year,Platform,Inc.generated a $200,000 net operating loss and made a $10,000 cash donation to a local charity.In its second year,Platform generated $350,000 operating income and made a $20,000 donation to the same charity.Compute Platform's taxable income for its second year.

• A)$120,000
• B)$135,000
• C)$320,000
• D)$130,000

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Definitions:

Feedback

Information provided regarding aspects of one's performance or understanding, often used as a basis for improvement or corrective action.

Internal Force

Forces that act within the object or system whose motion is being investigated, often responsible for changes in the shape or state of the object.

Customers

Individuals or entities that purchase goods or services from a business, forming the basis of its revenue and market success.

Managerial Quality

The effectiveness and capability of managers in leading and making decisions that contribute to the success of an organization.