Jade Corporation, a C Corporation, Had $100,000 Operating Income and $40,000

question 75

Multiple Choice

Jade Corporation, a C corporation, had $100,000 operating income and $40,000 operating expenses during the year. In addition, Jade had a $2,000 long-term capital gain and a $10,000 short-term capital loss. Compute Jade's taxable income for the year.

• A)$52,000.
• B)$57,000.
• C)$60,000.
• D)$62,000.
• E)None of the above.

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Definitions:

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