Dexter Corporation reports the following results for the current year: $\begin{array}{lr}
\text { Gross income from operations } & \$ 90,000 \
\text { Dividends from less than } 20 \% \text { - owned corporations } & 50,000 \
\text { Operating expenses } & 75,000 \
\text { Charitable contributions } & 10,000
\end{array}$ In addition, Dexter has a $25,000 NOL carryover from the preceding tax year. What is Dexter's taxable income fo current year?

Question

Quizplus · Accepted Answer

The Answer of Dexter Corporation reports the following results for the current year: $\begin{array}{lr}
\text { Gross income from operations } & \$ 90,000 \
\text { Dividends from less than } 20 \% \text { - owned corporations } & 50,000 \
\text { Operating expenses } & 75,000 \
\text { Charitable contributions } & 10,000
\end{array}$ In addition, Dexter has a $25,000 NOL carryover from the preceding tax year. What is Dexter's taxable income fo current year?

Dexter Corporation Reports the Following Results for the Current Year