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Jackson Associates, a corporation, had the following income and expenses for 2017. Present answers in good form -numbers with labels. Sales Revenue Interest income Interest

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Jackson Associates, a corporation, had the following income and expenses for 2017. Present answers in good form -numbers with labels. Sales Revenue Interest income Interest expense Dividends received Dividends paid Operating expenses(other than depr.) Depreciation expense Retained Earnings, 1/01/17 790,000 12,000 45,000 24,000 45,000 550,000 15,000 200,000 1) What is the taxable income for 2017? 2) What is the tax liability for 2017? (Use tax chart in text) 3) What is net income for 2017

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