Question: Dove Corporation a calendar year C corporation had the following

Dove Corporation, a calendar year C corporation, had the following information for 2014:
Net income per books (after-tax)........... $386,250
Taxable income.................. 120,000
Federal income tax per books ............. 30,050
Cash dividend distributions............. 150,000
Unappropriated retained earnings as of January 1, 2014... 796,010
Based on the above information, use Schedule M–2 of Form 1120 (see Example 50 in the text) to determine Dove's unappropriated retained earnings balance as of December 31, 2014.

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  • CreatedMay 25, 2015
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