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Koil Corporation generated $748.000 ordinary income from the sale of inventory to its customers. It also sold three noninventory assets during the year. Required: a.
Koil Corporation generated $748.000 ordinary income from the sale of inventory to its customers. It also sold three noninventory assets during the year. Required: a. Compute Koil's taxable income assuming that the first sale resulted in a 566,200 capital gain, the second sale resulted in a $14,400 capital loss, and the third sale resulted in a $21.500 capital loss. b. Compute Koil's taxable income assuming that the first sale resulted in a $23.800 ordinary gain, the second sale resulted in a $39,500 capital gain, and the third sale resulted in a $93,600 capital loss c. Compute Koll's taxable income assuming that the first sale resulted in a S14700 capital gain, the second sale resulted in a $24.800 capital loss, and the third sale resulted in an $13,500 ordinary loss
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