Carol Kilpatrick

Unit 4 assignment
May 15, 2012

C:4-29

$500,000(taxable income)
-$80,000(long-term capital loss)
$420,000
-$6,000(fines and penalties)
$414,000
+$10,000(production activities deduction)
$424,000
+$56,000(80,000*70%)
$480,000
+$20,000(NOL carryover)
$500,000
+$40,000 (depreciation)
$540,000
-$170,000(500,000*.34)
$370,000 (Earning and Profit)

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