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Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $35,000...

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Accounting

Flip's Pizzeria Inc. has the following financial items for the current year:

Advertising Expenses $35,000

Cost of Goods Sold $380,000

Other Operating Expenses $385,000

Sales $2,115,000

Cost of Equipment purchased during the year (10 year estimate useful life, 0 salvage value) $320,000

Calculate Flip's taxable liability for the current year.

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