Business, 22.05.2020 00:01, tdun7003

Griffin, Inc. had $55,000 in taxable income and income tax expense of $8,000. During the year Griffin also had $2,000 in penalties, $12,000 in business meals with clients, and $1,000 in interest received from a municipal bond. How much was Griffin’s net income for the year?

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Griffin, Inc. had $55,000 in taxable income and income tax expense of $8,000. During the year Griffi...