Using the legend provided, classify each statement accordingly. In all cases, assume that taxable income is being adjusted to arrive at current E & P for 2017. Legend: a. Increase b. Decrease c. No effect

• Gain on installment sale in 2017 deferred until 2018
• Interest received from municipal bonds in 2017
• Federal income tax refunds from tax paid in prior years
• Loss on sale between related parties in 2017
• Meal and entertainment expenses not deducted in 2017 because of the 50% limitation
• Cash dividends distributed to shareholder in 2017
• Gain realized, but not recognized, in a like-kind exchange transaction in 2017
• Domestic production activities deduction claimed in 2017
• Premiums paid on key employee life insurance policy (assume no increase in cash surrender value of policy) in 2017
• Section 179 expense in second year following election

Question asking that each line is increase, decrease or no effect? Thank you.