A. SS Corporation's Ordinary Business Income or Loss for the Year To determine the ordinary business income or loss for SS Corporation, we must calculate the net income based on revenue, costs, and allowable deductions: Gross Receipts from Sales: $680,000 Less: Cost of Goods Sold: -$460,000 Less: Operating Expenses: -$97,000 Note that certain expenses and losses are treated differently for tax purposes: Fine for Illegal Business Practices: This is not deductible for tax purposes. Capital Loss on Sale of Stock: This is a separately stated item and not part of ordinary business income. Charitable Contribution: This is also a separately stated item. Thus, the calculation for ordinary business income is: Ordinary Business Income = Gross Receipts Cost of Goods Sold Operating Expenses Ordinary Business Income=Gross ReceiptsCost of Goods SoldOperating Expenses Plugging in the values: Ordinary Business Income = $ 680 , 000 $ 460 , 000 $ 97 , 000 = $ 123 , 000 Ordinary Business Income=$680,000$460,000$97,000=$123,000 Answer: SS Corporation's ordinary business income for the year 2023 is $123,000. B. Mr. S's Share of S Corporation Income and Separately Stated Items Ordinary Business Income Share: Total Ordinary Income: $123,000 Mr. S owns 10% of the