OPINION.
OPPER, Judge:
Respondent determined a deficiency in income and excess profits tax for petitioner's year ended June 30, 1951, in the amount of $49,685.88. The sole issue is whether a balance carried on petitioner's books in an account entitled "Work in Progress" is properly included in petitioner's total assets at June 30, 1950, for purposes of computing its excess profits credit.
All of the facts, having been stipulated, are hereby...
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