ABC Company had total revenue and expense numbers of Rs.14,00,000 and Rs.11,00,000, respectively, in the current year. In addition, the company had a gain of Rs.230,000 that resulted from the passage of new legislation, which is considered unusual and infrequent for financial reporting purposes. The gain is expected to be subject to a 40 percent income tax rate. The net income for the current year on the basis of above given data is?

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To calculate the net income for the current year we need to subtract the expenses from the rev... View the full answer