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Wilson Corporation reported the following results for its first two years of operation: 2020loss(beforeincometaxes)2021income(beforeincometaxes)(1,700,000)2,200,000 There were no permanent or temporary differences during these three years.
Wilson Corporation reported the following results for its first two years of operation: 2020loss(beforeincometaxes)2021income(beforeincometaxes)(1,700,000)2,200,000 There were no permanent or temporary differences during these three years. Assume an enacted corporate tax rate of 21%. What net income (loss) is reported in 2021? (Assume that any deferred tax asset recognized is more likely than not to be realized.)
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