Black Company is a Subchapter S corporation.It reported book income of $100,000.Included in that amount is dividend income of $5,000,a net capital loss of $4,000,and a charitable contribution of $20,000.Determine the ordinary income/loss of the corporation and the nature and amount of any separately stated items.

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The Answer of Black Company is a Subchapter S corporation.It reported book income of $100,000.Included in that amount is dividend income of $5,000,a net capital loss of $4,000,and a charitable contribution of $20,000.Determine the ordinary income/loss of the corporation and the nature and amount of any separately stated items.

Black Company Is a Subchapter S Corporation