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Oakland corporation reported a net operating loss of 500000

Question - Oakland Corporation reported a net operating loss of $500,000 in 20x3 and decided to carry forward to 20x4. Not included in the computation was a disallowed meals and entertainment expense of 20,0000 tax exempt income of 10,000 and deferred gain on installment sale of 250000. The corporation's current earning and profit for 20x3 would be?

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Accounting Basics: Oakland corporation reported a net operating loss of 500000

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