Question: This year , Sigma Incorporated generated $621750 incore from its routine business operations. In addition, the corporation sold the following assets, all of which were
This year , Sigma Incorporated generated $621750 incore from its routine business operations. In addition, the corporation sold the following assets, all of which were held for more than 12 months: Initial Basis $ 154,800 106,400 Accumulated Depreciation $0 85,120 Sale Price 567,500 54,750 Marketable securities Production equipent Business realty Tiand Building 166,500 225,000 0 67,500 193,000 235,000 *Through date of sale. Required: a. Compute Sigma's taxable income assuming that it used the straight-line method to calculate depreciation on the building and has no nonrecaptured Section 1231 losses. b. Recompute taxable income assuming that Sigma sold the securities for $182.400 rather than $67,500. Complete this question by entering your answers in the tabs below. Required A Required B Compute Sigma's taxable income assuming that it used the straight-line method to calculate depreciation on the building and has no nonrecaptured Section 1231 losses Taxable income Required 3 >
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