Potter Corporation reports the following results for the current year:
$\begin{array}{ll}
\text { Operating income } & \$ 40,000 \
\text { Dividend income } & 35,000 \
\text { Interest income } & 25,000 \
\text { Other expenses } & 25,000 \
\text { Passive income-related expenses } & 20,000
\end{array}$ At the end of the year, Potter's Subchapter C E&P is $50,000. What is the amount of Potter's excess net passive income?

Question

Potter Corporation reports the following results for the current year:
 $\begin{array}{ll}
\text { Operating income } & \$ 40,000 \
\text { Dividend income } & 35,000 \
\text { Interest income } & 25,000 \
\text { Other expenses } & 25,000 \
\text { Passive income-related expenses } & 20,000
\end{array}$ At the end of the year, Potter's Subchapter C E&P is $50,000. What is the amount of Potter's excess net passive income?

Quizplus · Accepted Answer

The Answer of Potter Corporation reports the following results for the current year:
 $\begin{array}{ll}
\text { Operating income } & \$ 40,000 \
\text { Dividend income } & 35,000 \
\text { Interest income } & 25,000 \
\text { Other expenses } & 25,000 \
\text { Passive income-related expenses } & 20,000
\end{array}$ At the end of the year, Potter's Subchapter C E&P is $50,000. What is the amount of Potter's excess net passive income?

Potter Corporation Reports the Following Results for the Current Year