On November 4, 2013, Tom purchased 2,000 shares of ABC stock for $20,000. On June 2, 2014, Tom sold the 2,000 shuts for $14,000. On June 30, 2014, he purchased 1,000 shares of DDD stock for $5,000. What is Tom's realized and recognized gain or loss on the June 2, 2014 sale? What is his basis in the stock from the June 30 purchase? What is JEB Corporation's taxable income and income tax if it has gross sales revenue of $63,000,000, cost of sales of $18,000,000, other expenses of $11,000,000, dividend income of $200,000 (10 percent ownership) and a charitable contribution of $4,000,000? A corporation has $400,000 of before-tax book income. In determining this, the corporation included $50,000 from an insurance policy paid because of the controller's death, $4,000 of premiums on other key-person life insurance policies, $10,000 interest on state on Nevada bonds, an addition of $15,000 to its bad debt reserves (bad debt expense was $20,000), and book depreciation of $34,000. The corporation's tax depreciation is $29,000. Calculate the corporation's taxable income