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On Dec 31st Company ABS has contributed capital $20,000; sales revenue $95,000; total assets $85,000, no dividends, and total liabilities $35,000. The Stockholder's equity is $50,000. What are the expenses?
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Explain how the amount of tax expense for calender 2008 andthe amount of taxes payable (if any) at December 31, 2008, can bedetermined.
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