1. Best Corporation had gross receipts of $400,000, cost of goods sold of $110,000, other business expenses of $100,000 and a $90,000 net capital loss on sales of stocks.. Its taxable income is: 210,000 200,000, 190,000, or 110,000 2. in the current year, the POD Partnership received revenues of $200,000 and paid the following amounts: $50,000 in rent and utilities, and $20,000 as a distribution to partner Olivia. In addition, the partnership earned $6,000 of long-term capital gains during the year. Partner Donald owns a 50% interest in the partnership. How much income must Donald report for the tax year? a. $68,000 ordinary income. b. $78,000 ordinary income. c. $65,000 ordinary income; $3,000 of long-term capital gains. d. $75,000 ordinary income; $3,000 of long-term capital gains. I 3. Samantha owns 1,000 shares (100%) of Evita, Inc., an corporation, that uses the calendar year. Her stock basis at the beginning of the tax year was $60,000. Evita's ordinary income for the year was $22,000 through the date of sale, and Samantha receives a distribution of $35,000 on May 3rd. Her stock basis at the end of the year is: a. 117,000 b. 82,000 C. 60.000 d. 47,000