Apps ezto.mheducation.com/ext/map/index.html con-condexternal browser=0&launchurahttps%253A%252F%252Fnewconnectmheducation.com252F4 de bear woman Announcements Chapter Seven Homework Sav Help Save & Exit...

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Apps ezto.mheducation.com/ext/map/index.html con-condexternal browser=0&launchurahttps%253A%252F%252Fnewconnectmheducation.com252F4 de bear woman Announcements Chapter Seven Homework Sav Help Save & Exit Submit Problem 07-35 (Algo) (LO 7-4, 7-5, 7-9, 7-11] 10 1 points Ail P Mc Graw Hill TGW, a calendar year corporation, reported $4,040,000 net income before tax on its financial statements prepared in accordance with GAAP The corporation's records reveal the following information TGW's depreciation expense per books was $459,000, and its MACRS depreciation deduction was $383,400 TGW capitalized $689.000 indirect expenses to manufactured inventory for book purposes and $824,000 indirect expenses to manufactured inventory for tax purposes TGW's cost of manufactured goods sold was $2,568,000 for book purposes and $2.660,000 for tax purposes Four years ago, TGW capitalized $2.316,000 goodwill when it purchased a competitor's business. This year, TGW's auditors required the corporation to write the goodwill down to $1,555,000 and record a $761,000 goodwill impairment expense Required: Compute TGW's taxable income Note: Do not round intermediate calculations. Amounts to be deducted should be indicated with a minus sign. TGW's net book income before tax Adjustments Depreciation Amount < Prev 10 of 20 Next > * Apps ezto.mheducation.com/ext/map/index.html con-condexternal browser=0&launchurahttps%253A%252F%252Fnewconnectmheducation.com252F4 de bear woman Announcements Chapter Seven Homework Sav Help Save & Exit Submit Problem 07-35 (Algo) (LO 7-4, 7-5, 7-9, 7-11] 10 1 points Ail P Mc Graw Hill TGW, a calendar year corporation, reported $4,040,000 net income before tax on its financial statements prepared in accordance with GAAP The corporation's records reveal the following information TGW's depreciation expense per books was $459,000, and its MACRS depreciation deduction was $383,400 TGW capitalized $689.000 indirect expenses to manufactured inventory for book purposes and $824,000 indirect expenses to manufactured inventory for tax purposes TGW's cost of manufactured goods sold was $2,568,000 for book purposes and $2.660,000 for tax purposes Four years ago, TGW capitalized $2.316,000 goodwill when it purchased a competitor's business. This year, TGW's auditors required the corporation to write the goodwill down to $1,555,000 and record a $761,000 goodwill impairment expense Required: Compute TGW's taxable income Note: Do not round intermediate calculations. Amounts to be deducted should be indicated with a minus sign. TGW's net book income before tax Adjustments Depreciation Amount < Prev 10 of 20 Next > *