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    Taxable income for 2007

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    Cost of Goods Sold $3,419
    Interest 187
    Dividends 370
    Depreciation 892
    Change in returned earnings 228
    Tax rate 35%

    What is the taxable income for 2007?

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    Please see response to your posting as given below:
    Net income = Change ...

    Solution Summary

    Solution contains calculation of taxable income.