Question 18 1 pts Tech Corp. provides technology services for local businesses. The federal income tax rate is 40%. There is no state income tax. Tech provided the following GAAP basis income statement for 2020, Sales - all sales on credit $100,000 Bad debts expense (provision) 5,000 Other Expenses (paid in cash) 65.000 Total Expenses 29,000 Net Income before Taxes $30,000 Balance Sheet Acct. Balances Beginning Ending Accounts Receivable $80,000 $85,000 Allowance for Bad Debts $6,000 $8,000 What is taxable income for 2020? $ 28,000 $ 29,000 $ 32,000 $ 31,000