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Fenwick Corporation, a C-Corporation, has $6,500,000 of sales revenue, cost of goods sold of $3,900,000, operating expenses of $2,100,000, and a general business tax credit
Fenwick Corporation, a C-Corporation, has $6,500,000 of sales revenue, cost of goods sold of $3,900,000, operating expenses of $2,100,000, and a general business tax credit of $25,000. What is Fenwick Corporation's 2021 federal taxable income?
a) $80,000 b) $475,000 c) $105,000 d) $500,000 e) $99,750
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