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 $345,000 Sales $2,195,000 Cost of Equipment purchased during the year (10 year estimate useful life, 0 salvage value) $565,000 Calculate Flip's taxable liability for the current year. 2 Taxable Liability 4 9 10