Solved: Short-term capital gain and an 8000 short-term capital loss, Accounting Basics

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Short-term capital gain and an 8000 short-term capital loss

Pelican Corporation had $100,000 operating income and $70,000 of operating expenses during the year. In addition, Pelican had a $2,000 short-term capital gain and an $8,000 short-term capital loss. Compute Pelican's taxable income for the year.

a. $24,000
b. $30,000
c. $31,000
d. $32,000

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Accounting Basics: Short-term capital gain and an 8000 short-term capital loss

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Accounting Basics: Short-term capital gain and an 8000 short-term capital loss

Reference No:- TGS02560918

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