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What is MKs taxable income

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Question - The following information applies to the operations of MK Inc. for 2018 and 2019. Assume a tax rate of 30% for both years.

2018 information:

Sales on account in the amount of $ 655,000

Warranty expense and associated liability in the amount of $ 125,000

No other expenses incurred.

2019 information:

Sales on account in the amount of $ 220,000

Warranty repairs made in the amount of $ 67,000

No expenses incurred.

Required - What is MK's taxable income for 2018?

Reference no: EM132818045

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