Baybrook Company had net income of $22,500. The company had $4,000 in penalties, $5,600 in entertainment expenses, and federal tax expense of $4,800 during the year, and $1,000 exclusion. How much is Baybrook's taxable income for the year? O $33,100 O $11,900 O $35.900

Baybrook Company had net income of $22,500. The company had $4,000 in penalties, $5,600 in entertainment expenses, and federal tax expense of $4,800 during the year, and $1,000 exclusion. How much is Baybrook's taxable income for the year? O $33,100 O $11,900 O $35.900

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter24: Multistate Corporate Taxation

Section: Chapter Questions

Problem 1BCRQ

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Question

Baybrook Company had net income of $22,500. The company had $4,000 in penalties, $5,600 in
entertainment expenses, and federal tax expense of $4,800 during the year, and $1,000 exclusion.
How much is Baybrook's taxable income for the year?
O $33,100
$11,900
O $35,900
O $35,100
None of the above

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