Assume the normal starting point for determining the e&p for the current year. Indicate whether each of the following would increase s (INC), decreases (DEC) or have no effect (N/E) on the starting point a corporations E&P. For example a payment of deductible salary would be n/a because its already included in calculating the starting point. Be specific as to amounts, the first answer is the amount and the second answer is the inc, dec, or n/e:

a) Refund of federal tax of $8,000.

b) payment of a fine to the local government $2,000.

c) receives proceeds on life insurance when a corporate officer dies $100,000.

d) uses in calculating its taxable income a dividends received deduction of $80,000.

e) makes a charitable contribution of $1,000 but is limited to deducting $800

This s a continuation of the prior question.

6) uses a capital loss carryforward of $27,000 against capital gains from the current year 7) spent $50,000 on entertaining clients during the year 8) incurred a capital loss of $7,000 on the sale of a municipal bond. It was the only capital gain or loss for the year. 9) included in taxable income is an installment payment of $9,000 from a sale of property two years ago. The sale was reported on the installment method. 10) Engaged in a tax deferred like kind exchange with an independent party. The gain realized was $24,000. There was no boot received in the transaction.