Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $80,000 Cost of Goods Sold $715,000 Other Operating Expenses $560,000 Sales $1,580,000 Wages and Salaries $320,000 Capital Gain $45,000 Calculate Flip's taxable income for the current year. A B D 1 2 Taxable income (Net Operating Loss)= 3 4 General's Inc. has the following financial items for the current year: Advertising Expenses $70,000 Cost of Goods Sold $635,000 Other Operating Expenses $325,000 Sales $2,885,000 Wages and Salaries $445,000 Capital Loss $15,000 Calculate General's taxable income for the current year. A B C 1 N Taxable Income (Net Operating Loss) 3 3