MEMORANDUM FINDINGS OF FACT AND OPINION
HAINES, Judge:
Respondent determined a deficiency in petitioner's Federal corporate income tax of $170,674 for the fiscal year ending (FYE) May 31, 1996.
The issues for decision are: (1) Whether the amounts paid to petitioner's sole executive and shareholder constituted reasonable compensation pursuant to section 162(a)(1); and (2) whether petitioner is entitled to deduct $80,000 as an expenditure for supplies...
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