In its first year, camco inc. generated a $109,000 net operating loss, and it made a $6,700 cash donation to a local charity. in its second year, camco generated a $236,100 profit, and it made a $10,100 donation to the same charity. compute camco’s taxable income for its second year.

As a result of a thorough physical inventory, waterway company determined that it had inventory worth $320200 at december 31, 2020. this count did not take into consideration the following facts: walker consignment currently has goods worth $47400 on its sales floor that belong to waterway but are being sold on consignment by walker. the selling price of these goods is $75900. waterway purchased $21900 of goods that were shipped on december 27, fob destination, that will be received by waterway on january 3. determine the correct amount of inventory that waterway should report.