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Timpanogos Incorporated is an accrual - method, calendar - year corporation. For 2 0 2 3 , it reported financial statement income after taxes of

Timpanogos Incorporated is an accrual

-

method, calendar

-

year corporation. For

2023,

it reported financial statement income after taxes of $

1, 450, 400 .

Timpanogos provided the following information relating to its activities for the year:

\

table

[[

Life insurance proceeds as a result of CEO's death,$

216, 000

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