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The Jolly Partnership reported the following items for the current year: Income from clients $190,000 Short-term capital gains 1,000 Dividend income 2,000 Cash operating expenses (125,000) Depreciation expense (6,000) Long-term capital loss (5,000) What is Jolly Partnership’s ordinary income?
Answers: 2
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The Jolly Partnership reported the following items for the current year: Income from clients $190,00...
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