Blue, Inc. is an S Corporation that has earnings and profits from prior years when it was
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Question:
Blue, Inc. is an S Corporation that has earnings and profits from prior years when it was a C corporation. In the current year, Blue, Inc. has $200,000 of sales,
$150,000 of cost of goods sold,
$60,000 of interest income,
$40,000 of dividends.
What is Blue, Inc.'s excess net passive income?
Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
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