Question

Zeron Incorporated generated $1,349,600 ordinary income from operations this year. It also recognized $29,200 recaptured ordinary income, $21,000 net Section 1231 gain, and $14,900 net capital loss on the sale of assets. Compute Zeron's taxable income.

Answer 1

$1384,900 is the  Zeron's taxable income. As the $1,349,600 + $29,200 + $21,000 - $14,900 = $1384,900.

What is meant by net income?

Net income in a company is the amount that remains after all costs, such as salaries and wages, the cost of goods or raw materials, and taxes, have been paid.

Net income for an individual is their "take-home" pay following tax, health insurance, and retirement deductions.

Thus, $1384,900 is the correct answer

For more details about net income, click here:

brainly.com/question/1347024

#SPJ1