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Business, 05.08.2019 20:10 bxbykyah

Oakland corporation reported a net operating loss of $500,000 in 20x3 and elected to carry the loss forward to 20x4. not included in the computation was a disallowed meals and entertainment expense of $20,000, tax-exempt income of $10,000, and deferred gain on a current year transaction treated as an installment sale of $250,000. the corporation's current earnings and profits for 20x3 would be:

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Oakland corporation reported a net operating loss of $500,000 in 20x3 and elected to carry the loss...
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