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For the year ended December 3 1 , 2 0 2 3 , and as part of the preparation of its annual financial statements (
For the year ended December and as part of the preparation of its annual financial statements expected to be completed in March The Steiner Corporation calculated earnings before taxes of $Then, to determine taxable income for its returns to be filed with various taxing authorities, the company had to consider the following taxrelated circumstances: In Steiner was permitted to deduct the remaining balance of a $ charitable contribution that it had recorded as an expense in ; the company had been permitted to deduct only $ for tax purposes in In late federal authorities had notified Steiner's management that payments of $ in and $ in made to officials of various foreign countries, were inappropriate under the terms of the Foreign Corrupt Practices Act.During Steiner made payments of $ to the taxing authorities for its estimated taxes. During the company invested in statesponsored taxexempt bonds and received interest therefrom of $ The company wrote off uncollectible accounts receivable of $ during Steiner estimated its bad debts expense for that year at of its sales of $ During Steiner paid $ to independent contractors to repair the products sold to its customers and which were still under warranty. The compensation of its own repairmen who worked on products under warranty was $ Parts used in the repairs cost $ Its estimate of warranty expense for was $In asset cost recovery permitted by tax rules $ was greater than depreciation under GAAP $ Steiner incurred goodwill of $ as the result of a purchase of a subsidiary on January The company's writeoff for impairment of goodwill under GAAP for the year was $; the tax authorities amortize goodwill on a straightline basis over years.Prepare a schedule of taxable income for The Steiner Corporation for the year endedDecember
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