Rajib is the sole shareholder of Robin Corporation, an S corporation. Robin Corporation earned $520,000 of gross income, had $170,000 in operating expenses, and distributed $80,000 to Rajib. What should Rajib report as income on his Federal income tax return?

Answer rating: 100% (QA)

Solution Ans 3 A Calculation of amounts reports as operating profit if rifl... View the full answer