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ACCT TAX 23. Mr. Wilson Incorporated his bookstore, Occult Books Unlimited, five years ago. Accumulated earning are $230,000, current earning are $80,000, and he can

ACCT TAX

23. Mr. Wilson Incorporated his bookstore, Occult Books Unlimited, five years ago. Accumulated earning are $230,000, current earning are $80,000, and he can show a need for $150,000 of inventory. What is the amount of accumulated taxable income? If the tax is paid, what are the accumulated earnings at the end of the current year?

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