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    SaraMays's Avatar
    SaraMays Posts: 3, Reputation: 1
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    #1

    Oct 18, 2009, 01:15 PM
    Taxable income & Tax liability.
    The Glenna Gayle company (GGC) had sales of $400,000 in the past year, with operating expenses of $210,000 and cost of goods sold of $70,000. Interest expense was $30.000, and $10,000 in common stock dividends were received. The company had $20,000 in capital gains and $30,000 in capital losses during the year. Compute the taxable income of GGC and tax liability.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Oct 18, 2009, 03:43 PM

    See link in other post to our homework guidelines. You need to be showing us your attempts at doing your own work first.
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