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shimmer inc

Business

shimmer inc. accrual method corp. this yr, it sells the following long term assets

Shimmer Inc. is a calendar-year-end, accrual-method corporation. This year, it sells the following long-term assets:AccumulatedAssetSales PriceCostDepreciationBuilding$698, 000 $667,000$24, 500Sparkle Corporation stock218, 000285, 000n/aShimmer does not sell any other assets during the year, and its taxable income before these transactions is $874,000.What are Shimmer's taxable income and tax liability for the year? (New Corporate income tax rate has been mentioned as "21% on alltaxable income" as per the recent change.)Taxable incomeTax liability

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