Estella, Inc., a calendar year S corporation, incurred the following items during the tax year. $\begin{array}{lr}
\text { Municipal bond interest } & \$ 7,000 \
\text { Sales } & 120,000 \
\text { Depreciation recapture income } & 14,000 \
\text { Long-term capital gain } & 20,000 \
\text { Cost of goods sold } & (42,000) \
\text { Administrative expenses } & (15,000) \
\text { Depreciation expense } & (13,000) \
\text { Charitable contributions } & (10,000)
\end{array}$
Calculate Estella's nonseparately computed income.

Question

Estella, Inc., a calendar year S corporation, incurred the following items during the tax year. $\begin{array}{lr}
\text { Municipal bond interest } & \$ 7,000 \
\text { Sales } & 120,000 \
\text { Depreciation recapture income } & 14,000 \
\text { Long-term capital gain } & 20,000 \
\text { Cost of goods sold } & (42,000) \
\text { Administrative expenses } & (15,000) \
\text { Depreciation expense } & (13,000) \
\text { Charitable contributions } & (10,000)
\end{array}$ ​
Calculate Estella's nonseparately computed income.

Quizplus · Accepted Answer

The Answer of Estella, Inc., a calendar year S corporation, incurred the following items during the tax year. $\begin{array}{lr}
\text { Municipal bond interest } & \$ 7,000 \
\text { Sales } & 120,000 \
\text { Depreciation recapture income } & 14,000 \
\text { Long-term capital gain } & 20,000 \
\text { Cost of goods sold } & (42,000) \
\text { Administrative expenses } & (15,000) \
\text { Depreciation expense } & (13,000) \
\text { Charitable contributions } & (10,000)
\end{array}$ ​
Calculate Estella's nonseparately computed income.

Estella, Inc ​ Calculate Estella's Nonseparately Computed Income

Estella, Inc
Calculate Estella's Nonseparately Computed Income