Futureinc. reported the following results for the year, Ask an Expert

Accounting

Future,Inc. reported the following results for the year:

Net income per books $110,000
Federal income taxes $36,170
Life insurance proceeds on key employee $15,000
Tax-exempt interest income $13,000
Net capital loss $25,000.

Future's taxable income for the year was:

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9400979

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