Problem $15-54($LO $15-3)$

Determine $2022$ taxable income in each of the following instances. Assume that the corporation is a C corporation and that book

income is before any income tax expense.

Required:

a$.$ Book income of $$50,000$ including capital gains of $$2,000,$ a charitable contribution of $$1,000,$ and nonrestaurant meals expenses

of $$3,000.$

b$.$ Book income of $$92,000$ including capital losses of $$3,000,$ a charitable contribution of $$12,000,$ and restaurant meals expenses of

$$3,000.$

c$.$ Book income of $$76,000$ including municipal bond interest of $$2,000,$ a charitable contribution of $$5,000,$ and dividends of $$3,000$

from a $10\%$ owned domestic corporation. The corporation also has an $$8,000$ charitable contribution carryover.

d$.$ Book income of $$129,000$ including municipal bond interest of $$2,000,$ a charitable contribution of $$5,000,$ and dividends of $$7,000$

from a $70\%$ owned domestic corporation. The corporation has a capital loss carryover of $$6,000$ and a capital gain of $$2,500$ in the

current year.