Hansen Corporation, an S Corporation , (not a manufacturer) reports the following items of income and expense
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Question:
Hansen Corporation, an S Corporation, (not a manufacturer) reports the following items of income and expense for 2021:
| Gross Revenue | $900,000 |
| Dividends Received from 30% owned corp | 200,000 |
| LTCG | 30,000 |
| STCL | 12,000 |
| City of Lee's Summit Bond Interest | 10,000 |
| Cost of Goods Sold | 375,000 |
| Administrative Expenses | 325,000 |
| Charitable Contributions | 60,000 |
If Dwight, an individual, owns 30% of Hansen S-Corp for all of 2021, how much ordinary income would Dwight report, as a result of Hansen's activities?
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