1) A corporation has operating income of $12,000,000 and it receives $800,000 in

Question

1) A corporation has operating income of $12,000,000 and it receives $800,000 in interest income and $1,200,000 in dividend income. It has $1,000,000 in capital gains and $2,000,000 in capital losses for the year. What is the corporation's taxable income???? please show work.!! 2) Which of the following are tax deductible items to a corporation? a. interest expenses b. dividends to common stockholders c. dividends to preferred stockholders d. interest expenses and dividends to preferred stockholders e. interest expenses, dividends to common stockholders, and dividends to preferred stockholders

Explanation / Answer

. What is the corporation's taxable income??? $2,400,000 2) Which of the following are tax deductible items to a corporation? c. dividends to preferred stockholders

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