Trail Corporation has gross profits on sales of $140,000 and deductible expenses of $180,000. In addition, Trail has a net capital gain of $60,000. Trail's taxable income is____________.

a. $20,000.
b. a $40,000 loss.
c. a $20,000 loss.
d. $60,000.

Explanation:Gross profit is a term used in the business Organisations to describe the total amount earned from the business activities of an organisation after deducting the total cost incurred which includes the total fixed cost and the total variable cost.

Deductible expenses is the total amount of cost that can be deducted from the business activities of an organisation over a given period of time.

FOR TRAIL CORPORATION ITS TAXABLE INCOME IS $20,000 DERIVED FROM DEDUCTING $180,000 FROM THE SUM OF $140,000 AND $60,000.

Trail Corporation has gross profits on sales of $140,000 and deductible expenses of $180,000. In addition, Trail has a net capital gain of $60,000. Trail's taxable income is____________. a. $20,000. b. a $40,000 loss. c. a $20,000 loss. d. $60,000.

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Trail Corporation has gross profits on sales of $140,000 and deductible expenses of $180,000. In addition, Trail has a net capital gain of $60,000. Trail's taxable income is____________.

a. $20,000.
b. a $40,000 loss.
c. a $20,000 loss.
d. $60,000.