Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $45,000 Cost of Goods Sold $370,000 Other Operating Expenses $400,000 Sales $2,440,000 Cost of Equipment purchased during the year (10 year estimate useful life, O salvage value) $425,000 Calculate Flip's taxable liability for the current year. X Answer is complete but not entirely correct. A B D E 1 2 Taxable Liability = $ 1,582,500 3 4 5 6 7 8 9 10