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Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $85,000 Cost of Goods Sold $670,000 Other Operating Expenses $390,000 Sales
Flip's Pizzeria Inc. has the following financial items for the current year:
Advertising Expenses $85,000
Cost of Goods Sold $670,000
Other Operating Expenses $390,000
Sales $1,560,000
Wages and Salaries $305,000
Capital Gain $40,000
Calculate Flip's taxable income for the current year.
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