Question: 32. In computing income under the net worth method, the following facts are found: Total assets..................................................................................... $1,600,000 Total liabilities................................................................................ 825,000 Nondeductible expenses................................................................. 120,000 Net worth

32.

In computing income under the net worth method, the following facts are found:

Total assets.....................................................................................

$1,600,000

Total liabilities................................................................................

825,000

Nondeductible expenses.................................................................

120,000

Net worth at beginning of year......................................................

560,000

Adjusted Gross income is:

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