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Larken Company's records show the following for the month of January:
Total Retained Earnings at January 1........................................ $400,000 Total Retained Earnings at January 31...................................... 500,000 Total Revenues........................................................................... 670,000 Total Dividends Declared........................................................... 40,000
Total expenses for January were:
a. $740,000.
b. $770,000.
c. $570,000.
d. $530,000.
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she contributed an additional $20000 to the corporation to help them. How much of her loss may she deduct as an ordinary loss?
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