Businesses pay taxes on their net income. Net income, is not the same as revenue, however. To calculate the net income, you need to start with the firm's revenues and deduct the relevant expenses located on the income statement. The computation itself is basic, and requires no specialized knowledge; take care, however, to input the numbers correctly to avoid any errors.
Deng Xiaoping emerges as paramount leader of the People's Republic of China. Deng had been dropped from the leadership roles after the April 1976 demonstrations in Tiananmen Square. As noted above, in July 1977 he returned to all his official positions and in addition he was the chief of staff of the People's Liberation Army.
In 1972, Mao welcomed American President Richard Nixon in Beijing, signalling a policy of opening China, which was furthered under the rule of Deng Xiaoping (1978â1992). Mao suffered a series of heart attacks in 1976, and died in September, aged 82.