Question: I need help with this general accounting question using standard accounting techniques. Barton Industries earned $350,000 in operating income for the current year. During the

I need help with this general accounting question using standard accounting techniques.

Barton Industries earned $350,000 in operating income for the current year. During the year, the company sold equipment it had previously purchased for $120,000 at a sale price of $160,000. The equipment was held for 11 months before being sold. a. What is the amount of capital gain realized during the year? b. What is the company's total taxable income for the year

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