During 2013,the Squamata Corporation,a regular C corporation,has $25,000 in ordinary income,a long-term capital loss of $20,000,and a short-term capital gain of $10,000.
a.Calculate the Squamata Corporation's tax liability for 2013.
b.Explain the nature and amount of any carrybacks or carryforwards that the corporation is entitled to use.

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The Answer of During 2013,the Squamata Corporation,a regular C corporation,has $25,000 in ordinary income,a long-term capital loss of $20,000,and a short-term capital gain of $10,000.
a.Calculate the Squamata Corporation's tax liability for 2013.
b.Explain the nature and amount of any carrybacks or carryforwards that the corporation is entitled to use.

During 2013,the Squamata Corporation,a Regular C Corporation,has $25,000 in Ordinary