Question
Assume that Clampett, Inc., has $290,000 of sales, $240,000 of cost of goods sold, $150,000 of interest income, and $130,000 of dividends. What is Clampett,
Assume that Clampett, Inc., has $290,000 of sales, $240,000 of cost of goods sold, $150,000 of interest income, and $130,000 of dividends. What is Clampett, Inc.'s excess net passive income?
a. 0
b. 137,500
c. 187.500
d. 280,000
e. non of these above
I have to find 'excess net passive income', not only 'net passive income'
Can you explain with equation?
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Financial and Managerial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
3rd edition
978-1-119-3916, 1119392132, 1119392136, 9781119391609, 1119391601, 978-1119392132
