Respuesta :
For the entire year, Stern would have $67 million in taxable income.
Pretax accounting income=39 million
temporary difference for the year=28 million
Taxable income = Pretax accounting income+Temporary difference for the year
Taxable income=$39 million+$28 million
Taxable income=$67 million
In general, income is expressed in monetary terms and refers to an entity's ability to save and consume within a given time frame. Conceptually, it is challenging to define income, and different fields may have distinct definitions. One's income may differ from their income as defined by legislation, for instance, depending on how one defines it economically. commonly applied in economics
Haig-Simons income, which defines income as Consumption + Change in Net Worth and is commonly applied in economics, provides an incredibly significant definition of income.
Income is defined by tax law as a figure that includes all wages, salaries, profits, interest payments, rent, and other forms of earnings received throughout a calendar year for families and individuals in the United States.
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