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Grove Corporation reports the following results for 2019: Gross receipts from operations $660,000 Operating expenses 700,000 Dividend income from 18% owned corporations 300,000 What is

Grove Corporation reports the following results for 2019:

Gross receipts from operations $660,000

Operating expenses 700,000

Dividend income from 18% owned corporations 300,000

What is Grove Corporations taxable income or loss for 2019?

How would Grove Corporations taxable income change if its operating expenses were $820,000 (instead of $700,000)?

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