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Problem 16-29 (LO 16-1) LNS Corporation reports revenues of $2,000,000. Included in the $2,000,000 is $15,000 of tax-exempt interest income. LNS reports $1,345,000 in ordinary

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Problem 16-29 (LO 16-1) LNS Corporation reports revenues of $2,000,000. Included in the $2,000,000 is $15,000 of tax-exempt interest income. LNS reports $1,345,000 in ordinary and necessary business expenses. What is LNS Corporation's taxable income for the year? Taxable income

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