d. Calculate the net income (or loss) for the year ended December 31. 2016 et income $ 46,566 e. What was the average income tax rate for Pope's Garage for 20162 Average income tax rate f. If s18 500 of dividends had been declared and paid during the year, what was th January 1. 2016, balance of retained earnings? THEI fained earnings

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A: Answer: The gross income is the income which is subject to tax before any deductions.

Q: How much of the following is gross income subject to income tax?

A: Answer: Calculation of gross income: Particulars   Amount Cancellation of indebtness of service…

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Q: 2. Table is given below shows that marginal tax rates for Alejandro Corporation. Taxable Income of…

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Q: 2. Table is given below shows that marginal tax rates for Alejandro Corporation. Taxable Income of…

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