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7 1

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7 1.25 points General's Inc. has the following financial items for the current year: Advertising Expenses $65,000 Cost of Goods Sold $655,000 Other Operating Expenses $475,000 Sales $2,265,000 Wages and Salaries $560,000 Capital Loss $30,000 Calculate General's taxable income for the current year. 03:32:18 Skipped A B ? D E eBook Taxable income (Net Operating Loss) ?? ?? ??? ? + Print References UT 8 1.25 points Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $40,000 Cost of Goods Sold $420,000 Other Operating Expenses $310,000 Sales $2,410,000 Cost of Equipment purchased during the year (10 year estimate useful life, O salvage value) $575,000 Calculate Flip's taxable liability for the current year. B D 8 03:32:00 Skipped A ? E 1 eBook 2 Taxable Liability