Calculate the net income and federal tax liability of Gentry Corporation. The gross income was
$189,000. Supplies were $67,311, depreciation was $1,953, and auto expenses totaled $6,899.
Calculate the net income and federal tax liability.
a) Net income $189,000; Federal tax liability is $28,350
b) Net income $121,689; Federal tax liability is $30,422
c) Net income $114,790; Federal tax liability is $40,177
d) Net income $112,837; Federal tax liability is $23,696
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