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Required information

Comprehensive Problem $16-65($LO $16-1,$ LO $16-2,$ LO $16-3)($Static$)$

$[$The following information applies to the questions displayed below.$]$

XYZ is a calendar$-$year corporation that began business on January $1,2023.$ For the year, it reported the following information in its current$-$year audited income statement. Notes with important tax information are provided below. Use Exhibit $16-6.$

$\backslash$table$[[$XYZ corporation Income statement For current year,Book Income$],[$Revenue fron sales,$$40,000,000$