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During the year Soylent, Inc. (a publicly traded, non-closely held corporation) presents the following information related to its operations: Total Sales $500,000 Dividends Received from
During the year Soylent, Inc. (a publicly traded, non-closely held corporation) presents the following information related to its operations:
Total Sales | $500,000 |
Dividends Received from a corporation in which they have a 70% ownership interest | $20,000 |
Operating Expenses | ($100,000) |
Charitable Contributions (cash) | ($20,000) |
Interest Expense | ($200,000) |
Losses from investment in a passive activity | ($10,000) |
Required: What is Soylents tax liability for the year?
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