Question: I need help with this question please Saturn Cleaning, Inc. provides cleaning services in Atlanta, Georgia. It is not a member of a controlled or

I need help with this question please

I need help with this question please Saturn Cleaning, Inc. provides cleaningservices in Atlanta, Georgia. It is not a member of a controlled

Saturn Cleaning, Inc. provides cleaning services in Atlanta, Georgia. It is not a member of a controlled or an affiliated group. Saturn reports the following results for the current year: i (Click the icon to view results.) Saturn's accumulated E&P balance and its reasonable business needs on January 1 of the current year, were $150,000. The firm can justify the retention of $80,000 of current E&P to meet its reasonable business needs. Read the requirements. X More info Requ Begin bute the accumulated taxable income. Finally, compute the accumulated earnings tax liability. (Enter tax rate in decimal form Taxable income $ 510,000 Taxa Federal income taxes 107,100 Plus Dividends paid in August of the current year 130,000 Included in taxable income are the following items that may require special treatment: Long-term capital gains $ 70,000 Short-term capital gains 2,000 Dividends from 22%-owned domestic corporation 120,000 Excess charitable contributions from last year that are deductible in the current year 35,000 Print DoneRequirements a. and b. What is Jupiter's accumulated taxable income and accumulated earnings tax liability? Begin by entering the positive adjustments to regular taxable income, then enter the negative adjustments and compute the accumulated taxable income. Finally, compute the accumulated earnings tax liability. (Enter tax rate in decimal form 0.XX.) Taxable income $ 600,000 Plus: Dividend-received deduction 45,500 Excess charitable contributions carried over from a preceding tax year and deducted in the current year 45,000 Minus: Accrued U.S. and foreign income taxes (126,000) Dividends-paid deduction (90,000) Net capital gain minus the amount of any associated income taxes (31,600) Accumulated earnings credit (130,000) Accumulated taxable income $ 312,900 Times: Tax rate 0.20 $ 62,580 Accumulated earnings tax liability

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