Estela,Inc. ,a calendar year S corporation,incurred the following items in 2015. Municipal bond interest $ 7,000 Sales 120,000 Depreciation recapture income 14,000 Long-term capital gain 20,000 Cost of goods sold (42,000) Administrative expenses (15,000) Depreciation expense (13,000) Charitable contributions (10,000) Calculate Estela's nonseparately computed income.

Question

Estela,Inc. ,a calendar year S corporation,incurred the following items in 2015. Municipal bond interest $ 7,000 Sales 120,000 Depreciation recapture income 14,000 Long-term capital gain 20,000 Cost of goods sold (42,000) Administrative expenses (15,000) Depreciation expense (13,000) Charitable contributions (10,000) ​ Calculate Estela's nonseparately computed income.

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The Answer of Estela,Inc. ,a calendar year S corporation,incurred the following items in 2015. Municipal bond interest $ 7,000 Sales 120,000 Depreciation recapture income 14,000 Long-term capital gain 20,000 Cost of goods sold (42,000) Administrative expenses (15,000) Depreciation expense (13,000) Charitable contributions (10,000) ​ Calculate Estela's nonseparately computed income.