Determine the amount of taxable income and separately stated items in each case, assuming the corporation is a Subchapter S corporation.

Required:

A. Book income of $68,000 including capital gains of $5,400, a charitable contribution of $2,000, and nonrestaurant meals expenses of $6,500.

B. Book income of $110,000 including capital losses of $10,500, a charitable contribution of $21,000, and restaurant meals expenses of $2,700.

C. Book income of $85,000 including municipal bond interest of $1,850, a charitable contribution of $5,800, and dividends of $4,600 from a 10% owned domestic corporation. The corporation also has an $7,700 charitable contribution carryover.

D. Book income of $147,000 including municipal bond interest of $2,050, a charitable contribution of $4,350, and dividends of $7,300 from a 70% owned domestic corporation. The corporation has a capital loss carryover of $5,350 and a capital gain of $2,700 in the current year.

Determine the amount of taxable income and separately stated items in each case, assuming the corporation is a Subchapter S corporation. Required: a. Book income of $68,000 including capital gains of $5,400, a charitable contribution of $2,000, and nonrestaurant meals expenses of $6.500. b. Book income of $110.000 including capital losses of $10,500, a charitable contribution of $21,000, and restaurant meals expenses of $2700. c. Book income of $85.00b including municipal bond interest of $1,850, a charitable contribution of $5,800, and dividends of $4,600 from a 10% whed domestic corporation. The corporation also has an $7,700 charitable contribution carryover. d. Book income of $147,000 including municipal bond interest of $2,050, a charitable contribution of $4,350 and dividends of $7,300 from a 70% owned domestic corporation. The corporation has a capital loss carryover of $5,350 and a capital 9 ain of $2,700 in the current year. Complete the question by entering your answers in the tabs below. Book income of $68,000 including capital gains of $5,400, a charitable contribution, ff $2,900, and nonrestaurant expenses of $6,500