Beta Manufacturing
•Beta Manufacturing reported taxable income of $2,000,000.
•$300,000 in capital expenditures were incorrectly deducted as expenses.
•$150,000 in interest income was not reported.
•There was a $200,000 tax credit that the company did not apply.
Requirement: Adjust the taxable income and calculate the correct tax liability at a corporate tax rate of 30%. Identify the errors and correct them.

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