Determine taxable income in each of the following independent cases. In all cases, the company was very profitable in all years prior to 2017 and it had retained earnings of $1,000,000 at the end of 2017. a. In 2018, Company A has taxable income of $60,000 prior to consideration of any net operating loss. In 2017, the Company incurred a net operating loss of $10,000. They did not elect to waive the carryback period. Determine 2018 taxable income. b. In 2018, Company B has taxable income of $50,000 prior to consideration of any net operating loss. In 2017, the Company incurred a net operating loss of $20,000. They elected to waive the carryback period. Determine 2018 taxable income. c. In 2019, Company C has taxable income of $35,000 prior to consideration of any net operating loss. In 2018, the Company incurred a net operating loss of $30,000. Determine 2019 taxable income. d. In 2019, Company D has taxable income of $35,000 prior to consideration of any net operating loss. In 2017, the Company incurred a net operating loss of $5,000. They elected to waive the carryback period. In 2018, the Company incurred a net operating loss of $40,000. Determine 2019 taxable income. 60,000 30,000 a. Taxable income b. Taxable income c. Taxable income d. Taxable income Determine taxable income in each of the following instances. Assume that the corporation is a C corporation and that book income is before any income tax expense. a. Book income of $50,000 including capital gains of $2,000, a charitable contribution of $1,000, and meals expenses of $3,000. b. Book income of $92,000 including capital losses of $3,000, a charitable contribution of $12,000, and meals expenses of $3,000. c. Book income of $76,000 including municipal bond interest of $2,000, a charitable contribution of $5,000, and dividends of $3,000 from a 10% owned domestic corporation. The corporation also has an $8,000 charitable contribution carryover. d. Book income of $129,000 including municipal bond interest of $2,000, a charitable contribution of $5,000, and dividends of $7,000 from a 70% owned domestic corporation. The corporation has a capital loss carryover of $6,000 and a capital gain of $2,500 in the current year. a. Taxable income 51,500 b. Taxable income c. Taxable income d. Taxable income In each of the following independent cases, determine the amount of business interest expense deduction and disallowed interest expense carryforward, if any. a. Company A has ATI of $70,000 and business interest expense of $20,000. b. Company B has ATI of $90,000, business interest expense of $35,000, and business interest income of $2,000. c. Company C has taxable income of $50,000 which includes business interest expense of S60,000 and depreciation of $50,000. a. Carryforward b. Carryforward c. Carryforward 6,000