A2.1.2.ScienceandMedia
However, ABC does have a warehouse in State Z, which it leases at a cost of $5 million per year. ABC has income tax nexus only in States Y and Z. ABC’s balance sheet at the beginning and end of the current year is as follows (all numbers in millions): January 1 account balances: State Y State Z Total. Cash $ 20 $ 10 $ 30 ................
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