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Aciodante, Inc., is a Florida Corporation which uses the accrual-method basis of accounting. For its most recent year it reported taxable income of $2,550,000.00. Making
Aciodante, Inc., is a Florida Corporation which uses the accrual-method basis of accounting. For its most recent year it reported taxable income of $2,550,000.00. Making up the computation of taxable income were the following items. (See below) Not included in the computation of taxable income were the following items: Required: Compute Aciodante's Current E\&P a) Compute the amount of dividend income reported by Aciodante's shareholders in the aggregate b) Compute Aciodante's 's accumulated E\&P at the beginning of next year. c) Fill out Form 1120 based on the foregoing information. Make Sure to fill out Schedule M-1. Do not worry about the balance sheet
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