During the current year, Florida Corporation reports the following results:

a. What is the amount of Florida’s dividends-received deduction?

b. How would your answer to Part a change if Florida instead reported a $20,000 loss from operations?

c. How would your answer to Parts a and b change if the dividend income were instead from a 10%-owned corporation and the loss from operations in Part b were instead $130,000?

Transcribed Image Text:

Net income from operations Dividend from a 20%-owned corporation (qualifying for the dividends-received deduction) $100,000 200,000