Q.3 In the year 2013, PQR Corporation had the following items of income, expense, gains, and losses: (2 mark)

Particulars	Amount in $
Sales	2,000,000
Account payable	600,000
Interest on savings account	56,000
Plant & Machinery	600,000
Equipment	300,000
Operating expenses	400,000
Furniture and Fixture	400,000
Gain on sale of AT&T stock	24,000
Loss on sale of IBM stock	60,000
Building	400,000
Motor vehicle	200,000
Cost of sales	1,080,000

What is taxable income of PQR Corporations for the year?

Answer: -

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