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Natali5045456 [20]
4 years ago
6

Oakland Corporation reported a net operating loss of $500,000 in 20X3 and elected to carry the loss forward to 20X4. Not include

d in the computation was a disallowed meals and entertainment expense of $20,000, tax-exempt income of $10,000, and deferred gain on an installment sale of $250,000. The corporation's current earnings and profits for 20X3 would be:A. ($500,000)B. ($720,000)C. ($510,000)D. ($260,000)
Business
1 answer:
Daniel [21]4 years ago
8 0

Answer:

The correct answer is

D. ($260,000)

good luck ❤

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<u />

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