Question: During the current year, LaMarcus, LLC reported a $50,081 loss on its books. Some (not all) of the items included in the loss computation were
During the current year, LaMarcus, LLC reported a $50,081 loss on its books. Some (not all) of the items included in the loss computation were $302,621 in sales revenue, $12,461 in qualified dividends, $150,657 in cost of goods sold, $20,391 charitable contribution, $34,439 in employee wages, and $13,343 of rent expense. How much ordinary business income (loss) will LaMarcus report on its current year return? Show a loss with a - sign in front. For example a loss of $1,000 would be -1,000.
CORRECT ANSWER IS -42,151.
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