Question 14 1 pts Assume the following: YE June 30 2007 2006 2005 Expected federal income tax (100) 700 685 expense (benefit) at 34% Expenses not deductible 357 32 51 for tax purposes State taxes, net 132 22 100 Change in valuation allowance (150). (766) (754) Income tax expense 239 (12) 82 In 2007, the company's net income (loss) was closest to: ($55) ($339) O ($533)