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A corporation is 100% owned by an individual. In 2023, it reports business gross receipts of 100,000, interest income of 200,000, and capital gain of

A corporation is 100% owned by an individual. In 2023, it reports business gross receipts of 100,000, interest income of 200,000, and capital gain of 300,000. Assume it has no expenses.

WHAT IS THE CORPORATION'S TAXABLE INCOME?

WHAT IS THE CORPORATION'S TAX LIABILITY?

IS THE CORPORATION SUBJECT TO THE PERSONAL HOLDING COMPANY TAX?

IF SO, WHAT IS THE TAX LIABILITY

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