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4 . In the current year, Werbung Corporation ( a calendar year C corporation ) had operating income of $430,000 and operating expenses of $355,000.
4. In the current year, Werbung Corporation ( a calendar year C corporation ) had operating income of $430,000 and operating expenses of $355,000. In addition, Werbung had a long-term capital gain of $50,000, a ling-term capital loss of $2,000 and a short-term capital loss of $30,000.
Compute Werbungs taxable income and tax for the year.
Taxable income $_______
Income tax $_______
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