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Builtrite had sales of $1,400,000 and COGS of $450,000. In addition, operating expenses were calculated at 20% of sales Buitrite also received dividends of $60,000
Builtrite had sales of $1,400,000 and COGS of $450,000. In addition, operating expenses were calculated at 20% of sales Buitrite also received dividends of $60,000 and paid out common stock dividends of $80,000 to its stockholders. A long term capital gain of $20,000 was realized during the year along with a capital loss of $30,000 What is Builtrite's taxable income? $730,000 $720,000 $688,000 $678,000 $608,000
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