During the current year, Metcalf Corporation has the following items of income and expense: Metcalf owns 37% of the corporation that distributed the dividend to Metcalf. Determine the amount reported as income before special deductions for the current year.
A) $130,000
B) $134,000
C) $150,000
D) $454,000
E) $470,000

Question

During the current year, Metcalf Corporation has the following items of income and expense:  Metcalf owns 37% of the corporation that distributed the dividend to Metcalf. Determine the amount reported as income before special deductions for the current year.
A) $130,000 
B) $134,000 
C) $150,000 
D) $454,000 
E) $470,000

Quizplus · Accepted Answer

The Answer of During the current year, Metcalf Corporation has the following items of income and expense:  Metcalf owns 37% of the corporation that distributed the dividend to Metcalf. Determine the amount reported as income before special deductions for the current year.
A) $130,000 
B) $134,000 
C) $150,000 
D) $454,000 
E) $470,000

During the Current Year, Metcalf Corporation Has the Following Items