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Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $35,000 Cost of Goods Sold $440,000 Other Operating Expenses $350,000 Sales

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Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $35,000 Cost of Goods Sold $440,000 Other Operating Expenses $350,000 Sales $2,860,000 Cost of Equipment purchased during the year (10 year estimate useful life, O salvage value) $430,000 Calculate Flip's taxable liability for the current year. A B D 1 2 Taxable Liability W N 4 5 6 7 8 9 10

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