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Problem 08-20 (Algo) [LO 8-5] Koil Corporation generated $730,400 ordinary income from the sale of inventory to its customers. It also sold three noninventory
Problem 08-20 (Algo) [LO 8-5] Koil Corporation generated $730,400 ordinary income from the sale of inventory to its customers. It also sold three noninventory assets during the year. Required: a. Compute Koll's taxable income assuming that the first sale resulted in a $72.000 capital gain, the second sale resulted in a $17,000 capital loss, and the third sale resulted in a $23,800 capital loss. b. Compute Koll's taxable income assuming that the first sale resulted in a $18.900 ordinary gain, the second sale resulted in a $40,500 capital gain, and the third sale resulted in a $82,800 capital loss. c. Compute Koll's taxable income assuming that the first sale resulted in a $13,600 capital gain, the second sale resulted in a $17,500 capital loss, and the third sale resulted in an $12.550 ordinary loss. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute Koll's taxable income assuming that the first sale resulted in a $72,000 capital gain, the second sale resulted in a $17,000 capital loss, and the third sale resulted in a $23,800 capital loss. Tauble income Required B>
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