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In the Current Year,ABC Corporation Had the Following Items of Income,expense,gains,and

Question 115

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In the current year,ABC Corporation had the following items of income,expense,gains,and losses:  Sales $500,000 Cost of sales 270,000 Operating expenses 100,000 Interest on savings account 14,000 Gain on sale of AT&T stock 6,000 Loss on sale of IBM stock 15,000\begin{array} { | l | r | } \hline \text { Sales } & \$ 500,000 \\\hline \text { Cost of sales } & 270,000 \\\hline \text { Operating expenses } & 100,000 \\\hline \text { Interest on savings account } & 14,000 \\\hline \text { Gain on sale of AT\&T stock } & 6,000 \\\hline \text { Loss on sale of IBM stock } & 15,000 \\\hline\end{array} What is taxable income for the year?


A) $135,000
B) $141,000
C) $144,000
D) $150,000

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