undefined

Shimmer Inc. is a calendar-year-end, accrual-method corporation. This year, it sells the following long-term assets: Asset Building Sparkle Corporation stock Sales Price Cost $728,000 $709,000 210,000 264,500 Accumulated Depreciation $35,500 n/a Shimmer does not sell any other assets during the year, and its taxable income before these transactions is $809,000. What are Shimmer's taxable income and tax liability for the year? Taxable income Tax liability Shimmer Inc. is a calendar-year-end, accrual-method corporation. This year, it sells the following long-term assets: Asset Building Sparkle Corporation stock Sales Price Cost $728,000 $709,000 210,000 264,500 Accumulated Depreciation $35,500 n/a Shimmer does not sell any other assets during the year, and its taxable income before these transactions is $809,000. What are Shimmer's taxable income and tax liability for the year? Taxable income Tax liability