For the events described below, select the taxrelatedterm

Chapter 17, Problem 17.3

(choose chapter or problem)

For the events described below, select the taxrelatedterm from the following list that best applies:gross income, depreciation, operating expense,taxable income, income tax, or net operating profitafter taxes.(a) A corporation reports that it had a negative$1,750,000 net profit on its annual incomestatement.(b) An asset with a current book value of$120,000 was utilized on a new processingline to increase sales by $200,000 this year.(c) A machine has an annual write-off of$21,000.(d) The cost to maintain quality assuranceequipment during the past year was $75,000.(e) A supermarket collected $24,000 in lotteryticket sales last year. Based on the winningspaid to individuals holding these tickets, arebate of $250 was sent to the store manager.(f) An asset with a book value of $8000 wasretired and sold for $8450.(g) The cost of goods sold in the past year was$3,680,200.(h) An over-the-counter software system willgenerate $420,000 in revenue this quarter.