53. Passive investment income includes all except: Interest b. Sales or exchanges of stock or securities c. Rents a. d. Interest on deferred payment sales of property held for sale to customers 54. S corporation corporate level elections include all except Selection and/or change of accounting method b. Election out of the installment sales provision Deduction and recapture of certain mining exploration expenses d. Inventory valuation 55. Which of the following is not a separately stated item in the income computation of an S corporation? c. a. Long-term capital gain b. Charitable contributions c. Interest income earned on accounts receivable Section 179 expense d. e. General business credit