Question: During 2 0 2 2 , Matador declared preferred dividends of $ 7 0 , 0 0 0 , paid $ 9 0 , 0

During 2022, Matador declared preferred dividends of $70,000, paid $90,000 for dividends, and received $135,000 for dividends on available-for-sale equity securities. The bookkeeper did not include any of these when calculating ICO. Determine the adjustment to ICO. Matador has a corporate tax rate of 30%.

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