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Paolo Corp generated the following income/(loss) since it's inception in 2017: Year Income/(loss) 2017 (5,000) 2018 7,000 2019 14,000 2020 (20,000) If Paolo generates $4,000
Paolo Corp generated the following income/(loss) since it's inception in 2017:
If Paolo generates $4,000 of income in 2021, what is the NOL carryforward to 2022?
| Year | Income/(loss) |
| 2017 | (5,000) |
| 2018 | 7,000 |
| 2019 | 14,000 |
| 2020 | (20,000) |
a.$3,200
b.$20,000
c.$0
d.$4,000
e.$800
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Corporate Financial Reporting In A Competitive Economy (RLE Accounting)
Authors: Herman W. Bevis
1st Edition
1138966819, 9781138966819
